question archive Last week Cafe Bistro reduced its prices on its chicken sandwiches from $3
Last week Cafe Bistro reduced its prices on its chicken sandwiches from $3
Subject:EconomicsPrice:2.88 Bought3
Last week Cafe Bistro reduced its prices on its chicken sandwiches from $3.50 per sandwich to $2.99 per sandwich. Its sales for sandwiches increased by 30%, and its sales of soft drinks also increased by 45%. What is the price elasticity of demand? What is the cross price elasticity of demand?
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