Que X Content X MindTap - Cengage Learni X how to calculate cross pric X How To Use the Cross-Prie X Q cross pr gage.com/staticb/ui/evo/index.html?deploymentld=60989319414367208260513946&elSBN=9780357722909&id=1828785792&snapshotld=3534520& CENGAGE | MINDTAP Chapter 05 Homework Back to Assignment Attempts Do No Harm / 0.6 14. Substitutes, complements, or unrelated? You work for a marketing firm that has just landed a contract with Run-of-the-Mills to help them promote three of their products: splishy splashers, flopsicles, and mookies. All of these products have been on the market for some time, but, to entice better sales, Run-of-the-Mills wants to try a new advertisement that will market two of the products that consumers will likely consume together. As a former economics student, you know that complements are typically consumed together while substitutes can take the place of other goods. Run-of-the-Mills provides your marketing firm with the following data: When the price of splishy splashers increases by 10%, the quantity of flopsicles sold increases by 11% and the quantity of mookies sold decreases by 5%. Your job is to use the cross-price elasticity between splishy splashers and the other goods to determine which goods your marketing firm should advertise together. Complete the first column of the following table by computing the cross-price elasticity between splishy splashers and flopsicles, and then between splishy splashers and mookies. In the second column, determine if splishy splashers are a complement to or a substitute for each of the goods listed. Finally, complete the final column by indicating which good you should recommend marketing with splishy splashers. Relative to Splishy Splashers Cross-Price Elasticity of Demand Complement or Substitute Recommend Marketing with Splishy Splashers Flopsicles Mookies Grade It Now Save & Continue Continue without saving R Q Search 9 W