Suppose the following table describes Anns’s weekly chocolate candies purchases, which vary depending on the price of a bags of candies: Price of chocolate candies ($) Bags of chocolate candies Chewing gum Apple pie cake Milk pack 2 4 3 2 3 2,5 2 3 4 2 Compute the cross price elasticity of chewing gum with respect to the price of a bag of chocolate candies. Compute the cross price elasticity of apple pie cake with respect to the price of a bag of chocolate candies. Compute the cross price elasticity of milk pack with respect to the price of a bag of chocolate candies. Are chocolate candies and chewing gum substitutes or complements? How do you know? Are of chocolate candies and apple pie substitutes or complements? How do you know?
Suppose the following table describes Anns’s weekly chocolate candies purchases, which vary depending on the
|
Price of chocolate candies ($) |
Bags of chocolate candies |
Chewing gum |
Apple pie cake |
Milk pack |
|
2 |
4 |
3 |
2 |
3 |
|
2,5 |
2 |
3 |
4 |
2 |
Compute the cross price elasticity of chewing gum with respect to the price of a bag of chocolate candies.
Compute the cross price elasticity of apple pie cake with respect to the price of a bag of chocolate candies.
Compute the cross price elasticity of milk pack with respect to the price of a bag of chocolate candies.
Are chocolate candies and chewing gum substitutes or complements? How do you know?
Are of chocolate candies and apple pie substitutes or complements? How do you know?
Are of chocolate candies and milk substitutes or complements? How do you know?
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