Determine by how much the demand for florida indian river, Ask an Expert

Economics

Applications of Cross Price Elasticity of Demand

Determine by how much the demand for Florida Indian River oranges would change as a result of a 10 percent increase in the price of Florida interior oranges, and vice versa.

Type of Orange: Florida Indian; River Florida; Interior California
Florida Indian River: -3.07 +1.56 +.0.01
Florida Interior: +1.16 -3.01 +0.14
California: 10.18 +0.09 -2.76

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M925378

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