[Solution] If a 12 percent rise in the price of salmon decreases the quantity of salmon demanded by 22 percent and increases the quantity of halibut demanded
Question: If a 12 percent rise in the price of salmon decreases the quantity of salmon demanded by 22 percent and increases the quantity of halibut demanded by 14 percent, calculate the cross elasticity of demand between salmon and halibut . ( Fully Explain the Economic Interpretation of calculated ε h,s ; use formula in p. 89).
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