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vichka [17]
2 years ago
8

A 2 percent increase in the price of milk causes a 6 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?
Business
1 answer:
scoray [572]2 years ago
7 0

Answer: 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 %

Explanation:

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