You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The

Question

2 years ago

9

You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The

own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X is -1.8. How much will your firm's total revenues (revenues from both products) change if you increase the price of good X by 2%?

Business

1 answer:

Novosadov [1.4K] · Answer 1 · 2022-09-10T19:34:49+03:00

Novosadov [1.4K]2 years ago

7 0

Answer:

Have a good day today! You got this :)