In November 2024
Answer to Question #261830 in Microeconomics for ghjkm
For product y (i.e. not product x), find own price elasticity of demand, income elasticity of demand and cross-price elasticity of demand. Briefly explain/interpret each of these three numerical results.
Price elasticity of demand is usually calculated through dividing %change in the demanded quantity by % change in the price.
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#339914 on Dec 2023
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