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Tenth Assignment Consider Stone Barrington's consumption of steak and bourbon. When (premium) steak was $20 a pound he purchased 16 steaks and 120 bourbons. Now

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Tenth Assignment Consider Stone Barrington's consumption of steak and bourbon. When (premium) steak was $20 a pound he purchased 16 steaks and 120 bourbons. Now the price of steak has increased to $30 and he purchases 12 steaks and 160 bourbons. Find the demand elasticity of steak (E) and the cross-price elasticity (Exp) of steak and bourbon. What does this values tell you

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