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Suppose the demand curve for a product is given by Q=17-2P+3Ps where P is the price of the product and Ps is the price o
Posted: Sun Jul 03, 2022 1:00 pm
by answerhappygod
- Suppose The Demand Curve For A Product Is Given By Q 17 2p 3ps Where P Is The Price Of The Product And Ps Is The Price O 1 (17.15 KiB) Viewed 9 times
Suppose the demand curve for a product is given by Q=17-2P+3Ps where P is the price of the product and Ps is the price of a substitute good. The price of the substitute good is $2.60. Suppose P = $0.50. The price elasticity of demand is - .045 (Enter your response rounded to two decimal places.) The cross-price elasticity of demand is (Enter your response rounded to two decimal places)