Calculate the cross-price elasticity of demand

Reference no: EM133380677

Question: The price of peanut butter increases from $3.50 to $4.00 per jar, and the quantity of jelly demanded falls from 35 jars to 28 jars. Using the midpoint formula, calculate the cross-price elasticity of demand. Report your answer to two decimal places.

Reference no: EM133380677

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