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Homework answers / question archive / The price elasticity of demand for plane rides is 0
The price elasticity of demand for plane rides is 0.5. The price elasticity of demand for train rides is 0.2. The cross elasticity of demand for train rides with respect to the price of a plane ride is 0.4. If the price of the plane ride rises by 10 percent, what is the percentage change in the price of a train ride that will lead to no change in the quantity demanded of train rides?
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