Business, 09.02.2021 01:00, zuberskylar

Using the mid-point formula, calculate the cross elasticity of demand for "The Washington Post" newspaper in relation to a change in the price for "The Economist" magazine. When the price of The Economist magazine increases from $12.00 to $14.00 per magazine, this results in an increase in the quantity demanded for "The Washington Post" from 1,000 to 1,160 newspapers a month in the market.

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Using the mid-point formula, calculate the cross elasticity of demand for "The Washington Post" news...