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The cross-price elasticity of demand for peanut butter with respect to the price of jelly is -0.4. If we expect the price of jelly to
The cross-price elasticity of demand for peanut butter with respect to the price of jelly is -0.4. If we expect the price of jelly to decline by 16%, what is the expected change in the quantity demanded for peanut butter? Select one: O a. +6.4% O b. -6.4% O c. +4.5% d. -4.5%
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