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(Solved) : Manager Firm Receives Revenues 40 000 Per Year Product X 90 000 Per Year Product Y Price E Q26597266 . . .

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You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product Xis -1.5, and the cross-price elasticity of demand between product Yand Xis -1.8 How much will your firms total revenues (revenues from both products) change if you increase the price of good Xby 2 percent? Instructions: Enter your response rounded to the nearest dollar. Use a negative sign(if applicable. 3,640

 

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(Solved) : Manager Firm Receives Revenues 40 000 Per Year Product X 90 000 Per Year Product Y Price E Q26597266 . . .

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