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Essay's paper info
| Topic: |
Business
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| Number of pages / Number of words: |
4 / 1033 |
Essay's paper body
People will still need their pets examined, and since both clinics are located near one another, some people are readily willing to substitute Jolly Pet Clinic for Happy Pet Clinic.
By using Cross Price Elasticity of Demand the change in demand for the Happy Pet Clinic services can be quantified. Cross price elasticity of demand measures the sensitivity of one quantity demanded to the change in price of another good...
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Cross price elasticity of demand measures the sensitivity of one quantity demanded to the change in price of another good. To calculate the cross price elasticity of demand it was estimated that a 5% rise in the cost of Happy Pet Clinic exams would increase the demand for exams at Jolly Pet Clinic by 10%...
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