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Calculate the cross price elasticity of demand

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Reference no: EM132011970

A local restaurant currently charges 20 for a popular fish dish and each night 100 customers order this dish. The same restaurant aslo has a side-order of chips on the menu at a cost of 5 per serve. When the price of chips increased to 5.50 sales of the fish dish fell to 90 customers per night . Calculate the cross- price elasticity of demand for fish with respect to chips.

Reference no: EM132011970

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