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)Suppose the demand for pork is given by the equation Q = p -0.75 pc 0.25 where pc is the price of chicken. a.) Compute

)Suppose the demand for pork is given by the equationQ = p-0.75pc0.25

wherepcis the price of chicken.

a.) Compute the cross-price elasticity of demand for pork.

Simplify the answer complete.

b.) Are the goods complements or substitutes? Explain your answer.

c.) Illustrate your answer to part b through a drawing of the pork and chicken markets in the

price-quantity graph. Make any necessary assumptions

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