When the price of Coke rises by 20 percent, the demand for Pepsi rises by 20 percent. Calculate the cross-price elasticity of demand. Are the goods complements or substitutes? A newspaper recently lowers its price from 80 cents to 60 cents. The number of newspapers sold increases from 280,000 to 320,000. What is the newspaper's elasticity of demand? Is it elastic, inelastic, or unit elastic? Given that elasticity, does it make sense for the newspaper to lower its price if it wants to increase total revenue