QN 7. Due to impact of ZESCO bills have on prices of coal, youwant to...
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Economics
QN 7. Due to impact of ZESCO bills have on prices of coal, youwant to know how the change in ZESCO tariffs affect demand forcoal. You observe that when the price of ZESCO units increasesfrom
$6.50
per KWhr to
$7.02
per KWhr, the sale of coal increases from 10,000 tonnes to40,000 tonnes. Determine the cross-price elasticity. Comment on theresult.
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