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1.2.3 Price, income and cross elasticities of demand

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Question 20

A market study of the consumer electronics industry estimated the cross elasticity of demand for smart printers to be -0.85 in response to changes in the price of proprietary ink cartridges. This implies that an 8% increase in the price of proprietary ink cartridges will cause the percentage change in demand for smart printers to be:

−9.4-9.4−9.4

−6.8-6.8−6.8

−0.11-0.11−0.11

6.86.86.8

1.2.3 Price, income and cross elasticities of demand Questions

  1. A Level
  2. /Economics
  3. /1.2.3 Price, income and cross elasticities of demand