The elasticity of demand for some products is affected by the personal values of potential customers. Consider devout practioners of Islam who believe it is wrong to eat pork. In muslim communities, the elasticity of demand for pork is 0.0, or complete inelastic―consumers will not buy pork no matter what happens to its price.

Q: Suppose that at a price of ₱1,500 per month, there are 30,000 subscribers to cable television in…

A: please find the answer below.

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A: The price elasticity is the measures of responsiveness of percentage change in quantity demanded…

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A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

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A: Alfred Marshall is the person who introduce the concept of elasticity in economics.

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Q: What is a real-world question involving price elasticity

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A:

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A: Cross elasticity of demand (XED) is the responsiveness of a percentage change in quantity demanded…

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A: Price elasticity of demand alludes to how much demand is influenced by changes in price.

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A: Price elasticity of demand = % Change in quantity sold (demanded) / % Change in price

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Q: The same formula for the price elasticity of demand can be used to calculate the cross elasticity of…

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Q: quantit

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