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Calculate and interpret the cross elasticity

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Calculate and interpret the cross elasticity between peas and carrots and draw the corresponding curves. Use the average elasticity formula. Include the formula in your answer.

Starting price of peas = $ 35 Starting price of carrots = $ 25

Final price of peas = $ 30 Final price of carrots = $ 25

Initial amount of peas = 20 Initial amount of carrots = 20

Final amount of peas = 24 Final amount of carrots = 34

Reference no: EM133078782

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