What is the cross-price elasticity of demand between, Ask an Expert

Economics

If a rise in the price of personal computers from $3,000 to $4,000 lowers the number of CD-RW's purchased from 20 million a month to 16 million a month, what is the cross-price elasticity of demand between computers and CD-RW's? Are these goods substitutes or complements?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9444842

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