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Business, 15.02.2020 02:15 evanmc627

Suppose the own-price elasticity of demand for good X is −3, its income elasticity is 1, its advertising elasticity is 2, and the cross-price elasticity of demand between it and good Y is −4. Determine how much the consumption of this goodwill change if the price of good X decreases by 5 percent.

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