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Suppose that when the price of peanut butter rises from $2 to $3 per jar, the quantity of jelly purchased falls from 20 million jars to 15 million jars. Instructions: Round your answer to two decimal places. If you are entering a negative number be sure to include a negative sign (-) in front of that number. The cross-price elasticity of demand between peanut butter and jelly using the mid-point method is:
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Suppose that when the price of peanut butter rises from $2 to $3 per jar, the quantity of jelly purc...
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