either of these drugs, prescription from an internal medicine practitioner is required.

Suppose,

Price elasticity of demand for prescriptions = -0.60, and

Cross price elasticity of demand between Nexium and Protonix = 0.60

a. Are Nexium and Protonix complements or substitutes? Explain. [2 point]

b. If the fee for internal medicine practitioners goes up by 5%, calculate the change

in the quantity of prescriptions for Nexium? Interpret your result. [4 points]

c. If price of Nexium falls by 2%, calculate the change in the quantity demanded for

Protonix? Interpret your result. [4 points]

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## This question was asked on Sep 17, 2012 and answered on Sep 18, 2012.

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