Suppose that when the price of hamburgers is $6, consumers buy 100 hamburgers and 50 pizzas. When the price of hamburger
Posted: Wed Jul 06, 2022 6:22 pm
Suppose that when the price of hamburgers is $6, consumers buy100 hamburgers and 50 pizzas. When the price of hamburgers rises to$8, consumers buy 70 hamburgers and 70 pizzas. Calculate the CrossPrice Elasticity of Demand (CPED) for pizzas with respect to theprice of hamburgers.