Homework: Quantitative Demand Analysis Assi... 0 Saved Help Save& Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question You are a manager in charge of monitoring cash flow at a major publisher. Paper books comprise 40 percent of your revenues, which grow about 2 percent annually. You recently received a preliminary report that suggests the growth rate in ebook reading has leveled off, and that the cross-price elasticity of demand between paper books and ebooks is O.3. In 2019, your company earned about $600 8 million from sales of ebooks and about $400 million from sales of paper books. points Ifyour data analytics team estimates the own price elasticity of demand for paper books is -2, how will a 4 percent decrease in the price of paper books affect your overall revenues from both paper books and ebooks sales? Instruction: Enter your response rounded to one decimal place. Your overall revenues will change by $ 8.5 0 million