What is the consumer cross-price elasticity of demand

Reference no: EM133422875

Question: When the price of jelly decreased from $4 to $2, the number of jars of peanut butter bought went from 20 to 28. What is the consumer's cross-price elasticity of demand for these two products? What does the calculated elasticity imply about the relationship between peanut butter and jelly for this consumer? Show all work.

Reference no: EM133422875

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