question archive How would you measure the effect of the ice cream price on chocolate syrup sales? a
How would you measure the effect of the ice cream price on chocolate syrup sales? a
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How would you measure the effect of the ice cream price on chocolate syrup sales?
a. Since chocolate syrup and ice cream are complements, one would measure this effect using the price elasticity of demand for syrup.
b. Since chocolate syrup and ice cream are substitutes, one would measure this effect using the price elasticity of demand for syrup.
c. Since chocolate syrup and ice cream are complements, one would measure this effect using the cross elasticity.
d. Since chocolate syrup and ice cream are substitutes, one would measure this effect using the cross elasticity.
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