Question
Suppose Qxd = 10,000 2 Px + 3 Py 4.5M, where Px = $90, Py = $40, and M = $2,100. What is the own
Suppose Qxd = 10,000 2 Px + 3 Py 4.5M, where Px = $90, Py = $40, and M = $2,100. What is the own
price elasticity of demand? What is the cross-price elasticity between goods X and Y? What happens to
revenues from good X when a competitor decreases the price of good Y (Py) by 8 percent? Show your work.
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Essentials Of Business Law
Authors: Jeffrey F Beatty, Susan S Samuelson
3rd Edition
0324537123, 9780324537123
