Calculate cross price elasticity between the model and price

Reference no: EM132192649

Question: Calculate cross price elasticity between the model X and the price of Y when own price is $10, the price of Y is $15, the price of Z is $24, and household income is $42,000. Suggest a strategic response: how should the producer of model X respond when the producer of Y raises prices (be as specific as possible)?

Reference no: EM132192649

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