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QUESTION
The cross price elasticity of biscotti demand with respect to the price of Lattes is -1.5 (Lattes and biscotti are complementary goods).
The cross price elasticity of biscotti demand with respect to the price of Lattes is -1.5 (Lattes and biscotti are complementary goods). If the price of Lattes increases 20% what would you expect to happen to biscotti demand?
