Claude eats fruit every afternoon. He usually chooses an apple or a banana. Whenever he opts to eat an apple, he also eats a cinnamon biscuit. The cross elasticity of demand is between apples and cinnamon biscuits and between apples and bananas.
A store increases the price of one of its products from pounds 25 to pounds 30 and its weekly revenue from this product increases from pounds 2500 to pounds 2850. This means that:
