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Vanyuwa [196]
3 years ago
11

A 2 percent increase in the price of milk causes a 4 percent reduction in the quantity demanded of chocolate syrup. what is the

cross-price elasticity of demand for chocolate syrup with respect to the price of milk?
Mathematics
1 answer:
yanalaym [24]3 years ago
8 0
The cross-price of elasticity of demand for chocolate syrup with respect to the price of milk would be :

e = % ΔQ chocolate syrup / %ΔP of milk

e = -4% / 2%

e = -2 % 
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