(Answered) If the cross-price elasticity of demand between iphones and

Economics

If the cross-price elasticity of demand between iPhones and iPads is -2.3,

Instructions: Enter your response as a percentage rounded to one decimal place. If you are entering a negative number be sure to include a negative sign (-) in front of that number.

a. Are these complementary or substitute goods?

Substitutes
Complements

b. If the price of iPhones increases by 18 percent, by how much will the demand for iPads change?

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Microeconomics, Economics

Category:- Microeconomics
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