Cross-price elasticity of demand between perf and drof

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Data collected in the imaginary economy of kharkeez reveals that when the price of drof decreased by 25%, the quantity of drof sold increased by 10%, and the quantity of perf demanded decreased by 30% What is the cross-price elasticity of demand between perf and drof? Which of the following can you conclude based on this information? Check all that apply. Drof and perf substitutes The demand for perf is price elastic in this price range, The demand for drof is price elastic in this price range, Drof and perf are unrelated

Reference no: EM13888446

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Cross-price elasticity of demand between perf and drof : Data collected in the imaginary economy of kharkeez reveals that when the price of drof decreased by 25%, the quantity of drof sold increased by 10%, and the quantity of perf demanded decreased by 30% What is the cross-price elasticity of demand bet..

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