Question: When a local circus show decreased its ticket prices from $25 to $20, there was a 10% decrease in movie ticket sales for a nearby

When a local circus show decreased its ticket prices from $25 to $20, there was a 10% decrease in movie ticket sales for a nearby cinema. Calculate the cross-price elasticity of demand and determine whether these products (i.e. circus tickets & cinema tickets) are complements or substitutes. ( E_c= %Q_a/ %P_b)

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