Question: Given Q1 = 100 - P1 + 0.75 P1 - 0.25P2 + 0.0075Y, at P1 = ? P2 = ? P3 = ? 1. Find

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


1. Find different cross elasticities of demand ε12, ε13.

2. Find income elasticity of demand.

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

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

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