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Recall the cross-price elasticity from earlier in the class. Suppose an economist estimates the cross price elasticity between brands of soda pop to be 3.55.
Recall the cross-price elasticity from earlier in the class. Suppose an economist estimates the cross price elasticity between brands of soda pop to be 3.55. and the cross price between brands of potato chips to be 0.355. Based on this information you would conclude that Group of answer choices total revenues would increase in the potato chip market if producers increased the price of potato chips internal rivalry is less intense in the soda pop market than the potato chip market internal rivalry is more intense in the soda pop market than the potato chip market there are more economies of scope in the soda pop industry than the potato chip industry
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