9. Substitutes, complements or unrelated?
Data collected in the imaginary economy of Kharkeez reveals that when the price of a bork increased by 20%, the quantity of bork sold decreased by 30%, and the quantity of perf demanded increase by 15%
What is the cross-price elasticity of demand between perf and bork?a.) -0.75b.) -0.5c.) -1.33d.) 0.75
Which of the following can you conclude based on this informations? check all that apply.a.) the demand for perf is price inelastic in this price range.b.) bork and perf are substitutesc.) bork and perf are unrelatedd.) the demand for bork is price elastic in this price range