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Consider twogoods: peanut butter and jelly.
Consider twogoods: peanut butter and jelly. If the price of jelly increases from N$2 a jarto N$3 per jar and the quantity demanded of peanut butter decreases from 50jars to 45 jars, what is the cross elasticity of demand? Are the goodssubstitutes or complements? [4 marks]