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Store XYZ Electronics sells 2 types of screens, Plasma and LCD, and a DVD player. It faces the following demand schedule for different prices
Store "XYZ Electronics" sells 2 types of screens, Plasma and LCD, and a DVD player. It faces the following demand schedule for different prices of Plasma. What is the cross-price elasticity of demand between Plasmas and LCDs as the price increases from $50 to $75? (Note: Write your answer in decimal form. Include minus sign if answer is negative.) Plasmas Demanded LCDs Demanded DVD Players Demanded Price of Plasma-$50 1000 1000 1000 Price of Plasma-$75 750 1500 900
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Managerial Economics Theory Applications and Cases
Authors: Bruce Allen, Keith Weigelt, Neil A. Doherty, Edwin Mansfield
8th edition
978-0393124491, 393124495, 978-0039391277, 393912779, 978-0393912777
