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Question 4.3: Use the given information to calculate the cross-price elasticity of demand for Jam. Round your answer to two decimal places (e.g. -3.02%). Cross-Price

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Question 4.3: Use the given information to calculate the cross-price elasticity of demand for Jam. Round your answer to two decimal places (e.g. -3.02%). Cross-Price Elasticity of Demand for Peanut Butter and Jam: Check Answer ..... Calculating Cross-Price Elasticity of Demand Item: Peanut Butter and Jam Peanut Butter Price Jam Quantity A jar of creamy peanut butter and Ajar of strawberry jam. Old $3.00 40 Cross-Price Elasticity of Demand = ? New $2.45 42.47 Percentage Change -20.00% 6.00%

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