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Author Question: In recent years, the prices of new domestically produced cars have been falling. Suppose consumers ... (Read 106 times)

krzymel

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In recent years, the prices of new domestically produced cars have been falling. Suppose consumers respond by reducing their demand for used cars and mass transport services such as bus travel. This information suggests that the cross-price elasticity between new cars and used cars, and the cross-price elasticity between new cars and bus travel, are negative.


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Marked as best answer by krzymel on Oct 5, 2019

makaylafy

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