3. If goods R and K have a cross elasticity of -3 and goods R and S have a cross elasticity of 5, then, what relationship exists between goods R and K? between R and S?

Figure: Demand for Coconuts Price of coconuts E A D3 B D1 C D2 Quantity of coconuts Use Figure: Demand for Coconuts. If coconuts are a normal good and the income level of consumers falls, it will be represented in the figure as a: shift from D1 to D2 movement from point B to point C shift from D1 to D3 movement from point A to point

Q: Sally gets a raise of 12%, and as a result, her demand for burgers decreases by 9%. What is  the income elasticity of Sally’s demand for burgers? Are burgers a normal good, an inferior  good, or neither for Sally?

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S Suppose that the price of President's Choice macaroni and cheese decreased from $10 to $9 per case, and at the same time, the quantity of Kraft macaroni and cheese sold dropped from 198 to 132 cases. a) What is the cross-elasticity of demand between the two products? Round your answer to 2 decimal places. b) What is the relationship between the two products? They are (Click to select) (Click to select) substitutes permanents A 1 + Prev 2 of 8 3 Next >

Oatmeal is an inferior good and cold cereal is a substitute for oatmeal. The cross‐price elasticity of Raisin with respect to oatmeal is negative.   Using a well‐labeled graph show the effect on the oatmeal market for each of the following. (Please also provide a brief explanation of the relationship (e.g., positive/negative) and the reasons/logic for the relationship.   a. An increase in the price of raisins. b. An increase in income. c. A decrease in population size. d. An increase in the price of cold cereal

10. An economist estimated the cross-price elasticity for peanut butter and jelly to be 1.5 . Based on this information , we know the goods are * a. inferior goods b. complements c. inelastic d. substitutes

4) Firm A sells products x and z; the first, at a price of $ 30, sells 200 units and the well z manages to sell 400 units. To increase his sales, he decides to lower the price from x to $ 20, but this variation produces a decrease in the sale of z to 80 units: a) Calculate the cross elasticity b) What kinds of goods are x and z between them? Explain why. c) Give 2 examples of these types of goods.

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