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Your firm receives revenue of $40MM per year from Product A and $90MM per year from Product B. The own- price elasticity of demand for
- Your firm receives revenue of $40MM per year from Product A and $90MM per year from Product B. The own- price elasticity of demand for Product A is -1.5. The cross-price elasticity of demand between Product A and Product B is -1.8. Suppose you increase the price of Product A by two percent:
- How much will Product A's revenue change?
- How much will Product B's revenue change?
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The End Of Poverty Economic Possibilities For Our Time
Authors: Jeffrey D Sachs, Bono
1st Edition
0143036580, 9780143036586
