(Answered) When the price of a burger fall from 3 to 1 and other

Economics

When the price of a burger fall from $3 to $1 and other things remain the same,

1. The quantity of burgers demand increases from 200 to 400 an hour,

2. The quantity of fries demand increases from 224 to 375 packets an hour

The cross elasticity of demand for fries with respect to burgers is -0.5

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Macroeconomics, Economics

Category:- Macroeconomics
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