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Suppose that the price of President's Choice macaroni and cheese decreased from $9 to $7 per case, and at the same time, the quantity of
Suppose that the price of President's Choice macaroni and cheese decreased from $9 to $7 per case, and at the same time, the quantity of Kraft macaroni and cheese dropped from 192 to 128 cases. a) What is the cross-elasticity of demand between the two products? b) What is the relationship between the two products?
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