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Author Question: What does the cross-price elasticity of demand measure? How is it calculated? What will be an ... (Read 44 times)

RRMR

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on: Jun 29, 2018
What does the cross-price elasticity of demand measure? How is it calculated?
 
  What will be an ideal response?

Question 2

Organizing a successful firm in a market economy has become ________ over the last century.
 
  A) politically impossible B) less difficult
  C) legally impossible D) more difficult


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underwood14

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The cross-price elasticity of demand measures the responsiveness of the quantity of one good demanded to changes in the price of another good. It is calculated by dividing the percentage change in quantity of good Y demanded by the percentage change in the price of good X.

Answer to Question 2

D


RRMR

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

daiying98

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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