in September 1993, The Times unilaterally lowered its price …                  Price Average Daily Sale             Pre- 09-93  Post-09-93   pre-09-93   post-09-93 Times       45  30  376836  448962 Guardian  45  45  420154  401705 Telegraph  45  45 1037375  1017326 Independent 50  50  362099  311046 2196464     2179039 Total daily newspaper sales (including a few other newspapers not mentioned in the slide) remained constant at about 2.5 million at both pre and post Sep-93. Compute: Relevant cross-price elasticities of demand for Guardian, Telegraph, and Independent? How do you ensure that the ceteris paribus assumption has been met here, although approximately?

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