Business, 06.06.2020 15:58 DSUDLER5555

Sales of shampoo by CleanHair, Inc. have recently decreased from 1,300 to 1,100 units in response to a price decrease from $7 to $5 by its main competitor. Assuming that everything else is being held constant, we can infer that: a) the cross-price ARC-elasticity (midpoints formula) between the two products is -2.
b) the cross-price ARC-elasticity (midpoints formula) between the two products is -

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Sales of shampoo by CleanHair, Inc. have recently decreased from 1,300 to 1,100 units in response to...

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