Cross price elasticity of demand between apples and pears

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A recent study has determined the following elasticities for apples. Use this elasticity information to answer the questions below.                                     

Price elasticity of demand for apples is 2.5

Cross price elasticity of demand between apples and pears is 1.5

Income elasticity of demand for apples is 3.

a. What would be the percentage change in apple unit sales if the price of apples decreased by 10%?

b. What would be the percentage change in apple unit sales if the price of pears increased by 5%?

c. What would be the percentage change in apple unit sales if income fell by 5%?

Reference no: EM13834183

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