Question: Please reference attachment. See image below. Econ help needed. A 4 percent increase in the price of milk causes a 16 percent reduction in the



Please reference attachment. See image below. Econ help needed.



A 4 percent increase in the price of milk causes a 16 percent reduction in the quantity demanded of chocolate syrup. What is the cross- price elasticity of demand for chocolate syrup with respect to the price of milk? Instructions: Enter your response as a whole number. If you are entering a negative number, be sure to include s negative sign (-). Cross-price elasticity of demand equals The two goods are |(Click to select) v | because when the cross-price elasticity of demand is substitutes , compliment O positive, the two goods are complements. positive, the two goods are substitutes. O negative, the two goods are complements. O negative, the two goods are substitutes.What are the respective price elasticities of supply at A and B on the supply curve shown in the figure below? Supply 10 B Prion 12 15 18 21 Quantity Instruction: Simplify and enter your responses as ratios. For instance, a ratio of 12/20 should be changed to 3/5. Elasticity of supply at point A: Elasticity of supply at point B.
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