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Question 3 [8 points] Suppose that the price of good A decreases from $30 to $13 and, as a result, the quantity traded ofA increases

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Question 3 [8 points] Suppose that the price of good A decreases from $30 to $13 and, as a result, the quantity traded ofA increases from 185 to 240, the quantity traded of B increases from 50 to 75 and the quantity traded of good C falls from 540 to 425. Note: Keep as much precision as possible during your calculations. Your nal answer should be accurate to at least two decimal places. a]: What is the absolute value of the price elasticity of demand of good A? Elasticity = I b} What is the crossprice elasticity of demand for good B with respect to the mice of good A? Elasticity = I 0]: Given the value of the calculated elasticity, these two goods are: 0 normal 0 inferior O complements O substitutes d} What is the crossprice elasticity of demand for good C with respect to the price of good A? e} Given the value of the calculated elasticity, these two goods are: 0 normal 0 inferior O complements O substitutes

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