Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 6 - Elasticity - Problems - Page 151: 7

Answer

-2.00, -2.50, -3.33; No, the cross price elasticity is not the same at the three prices; Movies and golf are complementary goods. B. 1.2; 2.00; 2.57 No, the income elasticity is different at different levels. No, golf is not an inferior good. Rather it is a normal good.

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