Suppose the demand curve for a product is given by Q 10 2P PS,
Question:
a. Suppose P $1.00. What is the price elasticity of demand? What is the cross-price elasticity of demand?
b. Suppose the price of the good, P, goes to $2.00. Now what is the price elasticity of demand? What is the cross-price elasticity of demand?
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a Find quantity demanded when P 100 and P S 200 ...View the full answer
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