Given Q1 100 P1 0 75 P1 0 25P2 0 0075Y, at P1 P2 P3 1 Find different cross elasticities of demand 12 , 13 2 Find income elasticity of demand it 's 0 75P2 and 0 25P3 and you have to assume numbers for P1 P2 and P3 ...

Given Q1 100 P1 075 P2 025P3 00075Y Lets assume the figures are as follows P1 5 P2 10 P3 20 Y 5000 D ...

Given Q1 = 100 - P1 + 0.75 P1 - 0.25P2 + 0.0075Y, at P1 = ?

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Given Q1 = 100 - P1 + 0.75 P1 - 0.25P2 + 0.0075Y, at P1 = ? P2 = ? P3 = ?

1. Find different cross elasticities of demand ε₁₂, ε_13.

2. Find income elasticity of demand.

it's 0.75P2 and 0.25P3 and you have to assume numbers for P1 P2 and P3

Related Book For answer-question

Economics

ISBN: 978-1285738321

12th edition

Authors: Roger A. Arnold

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Posted Date: Aug 15, 2020 08:31 AM

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Given Q1 = 100 - P1 + 0.75 P1 - 0.25P2 + 0.0075Y, at P1 = ?

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