Solved: Determining the consumer demand for your product, Microeconomics

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Determining the consumer demand for your product

You have the following information for your product

a. The price elasticity of demand is -0.9

b. the income elasticity of demand is 0.5

c. the cross-price elasticity of demand between your good and a related good is 2.0

What can you determine about consumer demand for your product from this information?

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Microeconomics: Determining the consumer demand for your product

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Microeconomics: Determining the consumer demand for your product

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