You are the manager of a firm that receives revenues of $50,000 per year from product X and $50,000 per year from product Y. The own price elasticity of demand for product X is -2.5, and the cross-price elasticity of demand between product Y and X is 3. How much will your firm's total revenues (revenues from both products) change if

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Q: elasticity

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A: Hey, Thank you for the question. According to our policy we can only answer up to 3 sub parts per…

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