Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter5: Elasticity
Section: Chapter Questions
Problem 22RQ: What is the formula for line cross-price elasticity of demand?
Related questions
Question
Using the table below calculate the cross-price elasticity of flour with respect to
rice
P1 P2 Q1 Q2
Flour $9 $12 40 25
Rice $4.45 $6.75 150 125
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