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Zoku2927 Zoku2927
  • 27-05-2024
  • Business
Answered

The price of a carcar rises by 10 percent.
The price elasticity of demand for carscars is 1.2. The price elasticity of demand for truckstrucks is 2.5
The cross elasticity of demand for truckstrucks with respect to the price of a carcar is 0.5
Given the rise in the price of a carcar, what percentage change in the price of a trucktruck will leave the quantity demanded of truckstrucks unchanged?

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