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     EduGorilla 
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    Directions: Read the following data and answer the question.

    XYZ are three commodities where X and Y are complements whereas X and Z are substitutes.
    A shopkeeper sells commodity X at Rs. 40 per piece. At this price, he is able to sell 100 commodities of X per month. After some time, he decreases the price of X to Rs. 20.
    Following the price decrease:
    He is able to sell 150 pieces of X per month.
    The demand for Y increases from 25 units to 50 units.
    The demand for Z decreases from 150 to 75 units.

    The cross-elasticity of monthly demand for Y when the price of X decreases from Rs. 40 to Rs. 20 is equal to

    Options :-

    1. +1
    2. -1
    3. -1.5
    4. +1.5
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Reply To: Directions: Read the following data and answer the question.XYZ are three commodities where X and Y ….
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