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Flura [38]
2 years ago
10

Suppose the own price elasticity of demand for good X is -3, its income elasticity is -3, its advertising elasticity is 4, and t

he cross-price elasticity of demand between it and good Y is 2. Determine how much the consumption of this good will change in percentage if:
a. The price of good X decreases by 7 percent.

b. The price of good Y increases by 9 percent.

c. Advertising decreases by 2 percent.

d. Income increases by 5 percent.
Business
1 answer:
WINSTONCH [101]2 years ago
8 0

Answer:i dont know

Explanation:

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Answer:

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In that a barter economy, people trade goods directly with goods rather than through using money.

Money is not used in a barter economy. Barter economy was experienced a very long time ago.

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