Question: Please solve the question. 12. Colgate sells its standard size toothpaste for Tk. 25. Its sales have been on an average 8000 units per month

Please solve the question.

12. Colgate sells its standard size toothpaste for Tk. 25. Its sales have been on an average 8000 units per month over the last year. Recently, its competitor Close-up reduced the price of its same standard size toothpaste from Tk. 35 to Tk. 30. As a result, Colgate sales declined by 1500 units per month. . Calculate the Cross elasticity of demand between the two products. . What does your estimate indicate about the relationship between the two products

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