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In music ville , the price elasticity of demand for CD players is 1.3, the income elasticity of demand for CD is 0.4, and the cross elasticity for CD players with respect to MP3s is 0.1 CD players are? A] inferior goods, b] complements c] substituts d] luxury good if the price of an MP3 increases by 20 percent with no change in the price of a CD player, the number of CD players_____ by____percent

 

 

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91528687

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