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Suppose the demand curve for a product is given by Q=11-1P+3Ps where P is the price of the product and Ps is the price o
Posted: Wed Jul 06, 2022 6:21 am
by answerhappygod
- Suppose The Demand Curve For A Product Is Given By Q 11 1p 3ps Where P Is The Price Of The Product And Ps Is The Price O 1 (14.21 KiB) Viewed 8 times
Suppose the demand curve for a product is given by Q=11-1P+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= $1.00. The price elasticity of demand is 0.06 (Enter your response rounded to two decimal places.) The cross-price elasticity of demand is (Enter your response rounded to two decimal places)