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jus10n jus10n
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5 years ago
Suppose the cross-price elasticity of demand between DVDs at Amazon.com and DVDs at Rakuten.com is 3.5. Based on this information, predict what happens when Amazon.com lowers its DVD prices by 10 percent.

• The quantity of DVDs demanded on Amazon.com will increase by 35 percent.

• The quantity of DVDs demanded on Rakuten.com will increase by 35 percent.

• The quantity of DVDs demanded on Amazon.com will decrease by 35 percent.

• The quantity of DVDs demanded on Rakuten.com will decrease by 35 percent.
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Microeconomics

Microeconomics


Edition: 7th
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kwashington67kwashington67
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2 years ago
thanks
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