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Suppose the cross-price elasticity of demand for pork with respect to the price of chicken is equal to +0.4. What does this tell you about
Suppose the cross-price elasticity of demand for pork with respect to the price of chicken is equal to +0.4. What does this tell you about the relationship between pork and chicken (substitutes, complements)? What will happen to consumption of pork if the price of chicken falls by 20%?
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