Suppose that the price of product a decreases from 27 to 14, Business Economics

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Suppose that the price of product a decreases from 27 to 14

Suppose that the price of product A decreases from $27 to $14 and, as a result, the quantity traded of A increases from 175 to 210, the quantity traded of B increases from 65 to 100 and the quantity traded of product C falls from 505 to 400.

1) What is the absolute value of the price elasticity of demand of product A?

2) What is the cross-price elasticity of demand for good B with respect to the price of good A?

3) What is the cross-price elasticity of demand for good C with respect to the price of good A?

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Business Economics: Suppose that the price of product a decreases from 27 to 14

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Business Economics: Suppose that the price of product a decreases from 27 to 14

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