Question #202161

A 10percent decreases in the price of dominos pizza decreases the demand for hamburger by 50 percentfind out the cross elasticy of demand between dominos pizza and hamburger


1
Expert's answer
2021-06-03T12:56:16-0400

Solution


Cross Elasticity= PercentagechangeinquantityofhamburgerPercentagechangeinpriceofpizzaz\frac{Percentage change in quantity of hamburger}{Percentage change in price of pizzaz}


cross elasticity=5010=+5\frac{50}{10} = +5

cross elasticity= 5


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Place free inquiry
Calculate the price
Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!
Our fields of expertise
Submit Your Assignment. We Can Do It.
LATEST TUTORIALS
APPROVED BY CLIENTS
"assignmentexpert.com" is professional group of people in Math subjects! They did assignments in very high level of mathematical modelling in the best quality. Thanks a lot
Canada #339914 on Dec 2023