Assume that if PY = 10, then Odx = 1400, and it PY = 5, then OdX = 1300. Use these tvo prioss of good Y PY) and the two quantties demanded of good X (QDX) to calculate the cross-price elasticity of...

M7

Extracted text: Assume that if PY = 10, then Odx = 1400, and it PY = 5, then OdX = 1300. Use these tvo prioss of good Y PY) and the two quantties demanded of good X (QDX) to calculate the cross-price elasticity of the demand of good X when the price of good Y decreases from 10 to 5. O 0.00 O 011 O 0.00 O 0.8/ QUESTION 15 Based on your answer to question 14, goods X and Y ars O nelastic O complements O nterior O substitutes