February 21, 2017

Homework Help: Economics

Posted by John on Saturday, August 23, 2008 at 1:47pm.

The Own price elasticity of demand for good X is -2, its income elasticity is 3, its advertising elasticity is 4, and the cross-price elasticity of demand between it and good Y is -6. Determine how much the consumption of this good will change if : the price of good X increases by 5 percent
price of good Y increases by 10 percent
advertising decreases by 2 percent
Income falls by 3 percent.

Answer This Question

First Name:
School Subject:

Related Questions

More Related Questions