Calculate the cross-price elasticity for the following goods. Are they substitutes or complements?
(A) The price of arline tickets goes up by 10 percent causing the quantity demanded far gasoline to ga up by 5 percent.
(B) The price of pancalse flour goes up by 10 percent causing the quantity demanded far pancake syrup to drap by 20 percent.
(C) The price of coffee gaes up by 5 percent causing the quantity demanded for tea to gu up by 5 percent.
(D) The price of leptops goes up by 5 percent causing the quantity temanded for USB Hives to irap by 2 percent.

Question

Calculate the cross-price elasticity for the following goods. Are they substitutes or complements?
 (A) The price of arline tickets goes up by 10 percent causing the quantity demanded far gasoline to ga up by 5 percent.
(B) The price of pancalse flour goes up by 10 percent causing the quantity demanded far pancake syrup to drap by 20 percent.
(C) The price of coffee gaes up by 5 percent causing the quantity demanded for tea to gu up by 5 percent.
(D) The price of leptops goes up by 5 percent causing the quantity temanded for USB Hives to irap by 2 percent.

Quizplus · Accepted Answer

The Answer of Calculate the cross-price elasticity for the following goods. Are they substitutes or complements?
 (A) The price of arline tickets goes up by 10 percent causing the quantity demanded far gasoline to ga up by 5 percent.
(B) The price of pancalse flour goes up by 10 percent causing the quantity demanded far pancake syrup to drap by 20 percent.
(C) The price of coffee gaes up by 5 percent causing the quantity demanded for tea to gu up by 5 percent.
(D) The price of leptops goes up by 5 percent causing the quantity temanded for USB Hives to irap by 2 percent.

Calculate the Cross-Price Elasticity for the Following Goods