APPLICATION OF PARTIAL DERIVATIVES
mail.srcc.edu › sites › defaultApplication of Partial Derivative Ques:7. If x 1 and p 1 are the demand and prices of tea, x 2 and p 2 are demand and price of coffee and demand function are given by: 1=π1 −1.7π 2 0.6 and 2=π1 0.4π 2 −0.8 Calculate the two cross elasticities of demand and point out whether the commodities are competitive or complementary. Ques:8.