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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: Wed Jul 06, 2022 6:19 am
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 (14.42 KiB) Viewed 11 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 32 (Enter your response rounded to two decimal places) Suppose the price of the good, P, goes to $1.00. Now the price elasticity of domand is (Enter your response rounded to two decimal places)