00:01
Hello everyone, so let's see the description.
00:04
So here we will talk about the penguin.
00:10
So the price of penguin patties decreases by 5%.
00:39
Now if we talk about the percentage change in price of penguin patties, then it is equal to minus 5.
01:09
If we talk about the quantity of rascal, sold decreased by 4%.
01:40
Then percentage change in quantity demanded of rascal is equal to minus 4.
02:07
Now the quantity of can is sold increased by 6%.
02:31
And if we talk about the quantity percentage change in quantity demand of can is 10 to 6.
02:59
Now let's see the cross price elasticity of rascal relative to price of penguin patties.
03:09
Then if we talk about the cross elasticity of demand.
03:16
So here is equal to minus 4 divided by 5.
03:33
Here it is 0 .8.
03:36
So the cross price elasticity of rascal relative to price of penguin patties is positive.
03:45
It applies rascal and can print patties are substitute goods...