Compute the arc cross elasticity of
suppose at a local grocery store the price of butter increase from 1 to 1.50 pet pound. as a result the quantities demanded of margarine increase from 500 to 600 pounds.
a. compute the arc cross elasticity of demand?
b. interpret the result?
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suppose at a local grocery store the price of butter increase from 1 to 150 pet pound as a result the quantities
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