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Calculate the cross elasticity of demand

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Reference no: EM132617968

Jessica and Sarah Inc. sells coffee and donuts. Marge has noticed that when the price of coffee was increased from $1.50 per cup to $1.80 per cup, the quantity demanded for donuts went up from 40 per hour to 62 per hour. calculate the cross elasticity of demand using the mid-point formula and interpret result assuming Jessica did not personally eat any of the donuts.

Reference no: EM132617968

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