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SOLVED: Using the midpoint method, find the cross-price elasticity of demand for FedEx and UPS overnight shipping if the price of FedEx increased from 65 to75 and the quantity demanded of UPS went up from 1.2 million packages per day to 1.3 million. Round to two decimal places as necessary.

SOLVED: Using the midpoint method, find the cross-price elasticity of demand for FedEx and UPS overnight shipping if the price of FedEx increased from 65 to75 and the quantity

VIDEO ANSWER: All right in this video we're going to be talking about how to calculate cross price elasticity of demand using the midpoint method. Specifically…

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