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What is the cross price elasticity of demand of goods

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Reference no: EM13190281

The demand of product (X) is given Qx=14-3Px+4Py. Xsells for $5/unit and Y sells for $2.5/unit.
1 what is the cross price elasticity of demand between goods X & Y at these prices.
2 What is the own price elasticity of demand at these prices?
3 if the price of X chnged to $4.5/unit?

Reference no: EM13190281

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