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Suppose the own price elasticity of demand for good X is -3, its income elasticity is 1, its advertising elasticity is 2, and the cross-price elasticity of demand between it and good Y is -4. Determine how much the consumption of this good will change if:
Instructions: Enter your answers as percentages. Include a minus (-) sign for all negative answers.
a. The price of good X decreases by 5 percent.
b. The price of good Y increases by 10 percent.
c. Advertising decreases by 3 percent.
d. Income increases by 4 percent.
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If the price elasticity of demand for apples is 1.3, then a 15% decrease in quantity demanded is caused by a: 16.67% decrease in the prices of apples. 16.67% increase in the price of apples. 11.54% increase in the price of apples.
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q.youre the manager of global opportunities for a u.s. manufacturer who is considering in europe expanding sales. as
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Jane uses an online dating service. For each of the following activities say whether Jane is screening or signaling.
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