Microeconomics 6th Edition by Robert Hall, Shirley Kuiper, Marc Lieberman

تمرين 8

Each of the following tells us something specific about the nature of spiral notebooks: either that the demand for them is elastic or inelastic; that they are normal or inferior; or that they are substitutes or complements for another good. In each case,state the relevant conclusion about spiral notebooks.
a. The income elasticity of demand for spiral notebooks is ?0.5
b. The price elasticity of demand for spiral notebooks is 1.5
c. The cross-price elasticity of demand for spiral notebooks with tablet computers is 0.8