The price of the substitute good is 240 suppose p 060 what


Problem

Suppose the demand curve for a product is given by Q = 19 - 1P + 2Ps Where P is the price of the product and Ps is the price of a substitue good. The price of the substitute good is $2.40. Suppose P = 0.60. what is the price elasticity of demand? What is the cross price elasticity of demand?

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Microeconomics: The price of the substitute good is 240 suppose p 060 what
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