Are his concerns legitimate

Reference no: EM133366866

Question: The owner of a restaurant is considering lowering menu price for his steak entrée to promote sales. However, he worries that this may reduce sales of his chicken entrée. He finds the cross price elasticity of demand to be 1.5. Are his concerns legitimate?

Reference no: EM133366866

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Are his concerns legitimate : he worries that this may reduce sales of his chicken entrée. He finds the cross price elasticity of demand to be 1.5. Are his concerns legitimate

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