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Cross-elasticity of demand between the two products

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Suppose that the price of President's Choice macaroni and cheese decreased from $9 to $7 per case, and at the same time, the quantity of Kraft macaroni and cheese dropped from 192 to 128 cases.

a) What is the cross-elasticity of demand between the two products?

b) What is the relationship between the two products?

Reference no: EM132482382

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