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Title: Suppose the cross-price elasticity of demand between grapefruit juice and orange juice is ... Post by: dwilliams11 on Oct 9, 2019 Suppose the cross-price elasticity of demand between grapefruit juice and orange juice is approximately 6. What does this mean? ▸ A 1 percent decrease in the price of grapefruit juice leads to a 6 percent increase in orange juice consumption. ▸ A 6 percent increase in the price of grapefruit juice leads to a 1 percent increase in orange juice consumption. ▸ The demand for orange juice is 6 times greater than the demand for grapefruit juice. ▸ If the price of grapefruit juice rises by $1, 6 more cartons of orange juice will be purchased. Title: Suppose the cross-price elasticity of demand between grapefruit juice and orange juice is ... Post by: shamanie on Oct 9, 2019 Content hidden
Title: Re: Suppose the cross-price elasticity of demand between grapefruit juice and orange juice is ... Post by: Nino Mocha on Feb 20, 2020 :)
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