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temp321 temp321
wrote...
Posts: 493
5 years ago

Assume that a retailer sells 800 six packs of Dr. Pepper per day at a price of $3.00/six-pack. You, as an economic analyst, estimate that the cross-price elasticity between Dr. Pepper and Coca-Cola is 0.6. If the retailer raises the price of Coca-Cola by 10%, how would the sales of Dr. Pepper be affected, ceteris paribus?



• Sales of Dr. Pepper would rise by 10%

• Sales of Dr. Pepper would fall by 48 six-packs

• Sales of Dr. Pepper would rise by 48 six-packs

• None of these
Textbook 
Introduction to Agricultural Economics

Introduction to Agricultural Economics


Edition: 7th
Authors:
Read 101 times
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WooWoo
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Posts: 449
5 years ago
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temp321 Author
wrote...
5 years ago
This site is awesome!
Woo
wrote...
5 years ago
Slight Smile Good luck on the rest
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