Question

inte par ont engh the demand for sub sino on rols has changed because the price of sandwich meat has risen from $2 00 to $210 per package 3 The ulaandetelaourn pone ordertonsach ichalpatan suore tonen oas eher op er formula and enter your response rounded to two decanal places. Bo sure to include the minus sign if necessary.) 2.00-1 1.89 0 3,000 0.000 9.000 12.000 15,000 Quandry (packages of rolls per wook)

Answer 1

Price of sandwich meat: P1 = $2 and P2 = $2.1
Quantity of sandwich roll: Q1 = 9000 and Q2 = 7000

Cross price elasticity = $\frac{Q2-Q1}{P2-P1}\times \frac{P2+P1}{Q2+Q1} = \frac{7000-9000}{2.1-2}\times \frac{2.1+2}{7000+9000} = \frac{-2000}{0.1}\times \frac{4.1}{16000}$

So, Cross price elasticity = -5.13