Question: The quantity demanded or product X has increased by 10% in response to a 15% increase in price of product Y. Calculate the cross elasticity

The quantity demanded or product X has increased

The quantity demanded or product X has increased by 10% in response to a 15% increase in price of product Y. Calculate the cross elasticity of demand and tell whether the product pair is (a) Voltas AC and Videocon AC or (b) Cars and Petrol and what you suggest for strategies the pricing policy

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