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Suppose the own price elasticity of demand for good

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Suppose the own price elasticity of demand for good X is -3, its income elasticity of demand is 1, its advertising elasticity of demand is 2, and the cross price elasticity of demand between it and good Y is -4. Determine how much consumption of this good X will change if he price of good X decreases by 5 percent.

Reference no: EM132346386

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