Essentials of Economics
4th Edition
ISBN: 9781464186653
Author: Paul Krugman, Robin Wells
Publisher: Worth Publishers
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Question
Chapter 5, Problem 14P
To determine
(a)
Reason for different signs of cross
To determine
(b)
The higher (lower) the absolute value of elasticity, the more (less) the degree of relatedness for the goods.
To determine
(c)
Impact on quantity demanded of coke due to 5% increase in price of pepsi.
To determine
(d)
Impact of quantity demanded of SUV's due to 10% decrease in price of gasoline.
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Chapter 5 Solutions
Essentials of Economics
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