Identify whether good X and good Y are substitutes or complements , that is find the cross elasticity of demand , if the price of X increases from $ 13 to $ 17 and the quantity demanded for good Y increases from 65 units to 75 units . (You may do it using percentage formula or the average). b. Draw the diagram showing what happens when the price of X increases from $ 13 to $ $ 17 and the quantity demanded for good Y increases from 65 units to 75 units.
Identify whether good X and good Y are substitutes or complements , that is find the cross elasticity of demand , if the price of X increases from $ 13 to $ 17 and the quantity demanded for good Y increases from 65 units to 75 units . (You may do it using percentage formula or the average). b. Draw the diagram showing what happens when the price of X increases from $ 13 to $ $ 17 and the quantity demanded for good Y increases from 65 units to 75 units.
Chapter1: Making Economics Decisions
Section: Chapter Questions
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a. Identify whether good X and good Y are substitutes or complements , that is find the cross
b. Draw the diagram showing what happens when the price of X increases from $ 13 to $ $ 17 and the quantity demanded for good Y increases from 65 units to 75 units.
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