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Author Question: Suppose the cross-price elasticity of demand between raspberry jam and strawberry jam is 7.5. The ... (Read 20 times)

redpassion

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on: Oct 12, 2022
Suppose the cross-price elasticity of demand between raspberry jam and strawberry jam is 7.5. The interpretation of this result is that
◦ a 10% increase in the price of strawberry jam leads to a 75% decrease in quantity demanded of raspberry jam.
◦ a 10% increase in the price of strawberry jam leads to a 75% increase in quantity demanded of raspberry jam.
◦ a 10% increase in the price of strawberry jam leads to a 7.5% increase in quantity demanded of raspberry jam.
◦ a 10% increase in the price of strawberry jam leads to a 7.5% decrease in quantity demanded of raspberry jam.
◦ a 10% increase in the price of strawberry jam leads to a 0.75% increase in quantity demanded of raspberry jam.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by redpassion on Oct 12, 2022

hillard sane

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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redpassion

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

carojassy25

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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