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Product & Level Demand Elasticity Supply Elasticity Income Elasticity All Food (farm) -0.2 0.1 0.2 Pork (retail) -0.75 1.3 0.3 Potatoes (farm) -0.1 0.2 0.1

Product & Level Demand Elasticity Supply Elasticity Income Elasticity

All Food (farm) -0.2 0.1 0.2

Pork (retail) -0.75 1.3 0.3

Potatoes (farm) -0.1 0.2 0.1

Chicken -1.2 1.1 0.4

A pork price increase of 10% resulted in the quantity of beef demanded increasing by 6%. Calculate the cross price elasticity of beef and pork.

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