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Assume that a retailer sells 500 units of Yoplait Yogurt per day at a price of $0.40/unit. You, as ...

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Assume that a retailer sells 500 units of Yoplait Yogurt per day at a price of $0.40/unit. You, as ...

Assume that a retailer sells 500 units of Yoplait Yogurt per day at a price of $0.40/unit. You, as an economic analyst, estimate that the cross-price elasticity between Yoplait Yogurt and Dannon Yogurt is 0.8. If the retailer raises the price of Dannon Yogurt from $0.50/unit to $0.60/unit, how would sales of Yoplait Yogurt be affected?

• Sales of Yoplait Yogurt would not be affected at all.

• Sales of Yoplait Yogurt would rise by 40 units.

• Sales of Yoplait Yogurt would rise by 80 units.

• None of these.

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Introduction to Agricultural Economics

Edition: 7^th

Authors: Penson, Rosson, Woodward

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