Cecilia is interested in two goods, X and Y. The cross price elasticity of her demand for good X is equal to -9.3 and the income elasticity of her demand for good X is equal to 6.1. It follows that own-price elasticity of Cecilia's demand for good X is equal to...

Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter20: Consumer Choice And Elasticity
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Cecilia is interested in two goods, X and Y. The cross price elasticity of her demand for good X is equal to -9.3 and the
income elasticity of her demand for good X is equal to 6.1. It follows that own-price elasticity of Cecilia's demand for
good X is equal to...
Transcribed Image Text:Cecilia is interested in two goods, X and Y. The cross price elasticity of her demand for good X is equal to -9.3 and the income elasticity of her demand for good X is equal to 6.1. It follows that own-price elasticity of Cecilia's demand for good X is equal to...
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