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Suppose that an airline reduced its prices for flights to a certain city from an average of $ 2 0 0 to an average of
Suppose that an airline reduced its prices for flights to a certain city from an average of $ to an average of $ Before the price change, a car rental company based at that city's airport had rented out about cars per day. After the airfare reduction, the car rental company noticed an increase in quantity demand to about cars per day.
What is the crossprice elasticity of demand for car rentals?
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