What is the cross-price elasticity of jamco jam
Problem: When the price of peanut butter increased by 3%, the number of units of jam sold by JamCo changed from 31,000 units to 29,000 units. What is the cross-price elasticity of JamCo's jam?
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When the price of peanut butter increased by 3%, the number of units of jam sold by JamCo changed from 31,000 units to 29,000 units.
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