During the summer months, Bruce's Market anticipates that the price of hot dogs will increase by 15% and the demand for hamburgers will increase by 38%. The cross-price elasticity of demand between hamburgers and hot dogs is what?

According to the U.S. Department of Energy, the average price of gasoline in the U.S. fell by 14% in 2015. The number of hybrid electric vehicles (HEV) sold in the U.S. fell by 36% in the same year. Calculate the cross-price elasticity of demand for HEVs and gasoline. Round answer to one place after the decimal.

The price of Samsung mobile phones rises from £175 to £125. This leads to an increase in the quantity demanded of Nokia mobile phones from 8375 per week to 8750. What is the cross price elasticity of demand for the mobile phones? What does this this suggest about the relationship between the two products?

A rise in the price of a muffin from $2 to $3 results in a fall in the quantity demanded of muffins from 200 million to 160 million a day. Moreover, at today's price of a donut of $1.50, the quantity demanded of donuts increases from 70 million to 100 million a day.  Calculate the price elasticity of demand for muffins (show calculations) Is the demand for muffins elastic or inelastic? Calculate the cross elasticity of demand for donuts with respect to the price of a muffin. (show calculations) Based on the above calculation how would you characterize the relationship between muffins and donuts? Why would the business owner want to know this? Only typed solution

When the price of chicken rises 31%, the quantity demanded of chicken falls 21%. What is the price elasticity of demand?

Let’s assume that in Camarillo the quantity demanded of iPad increases by 18% when income increases by 10%. What is the income elasticity of demand for iPad in Camarillo?

Explain why for some goods, the long-run price elasticity of demand is greater than the short-run price elasticity of demand. Give examples of goods that may display this characteristic.

If a complementary price of an item increases and I know the cross-price elasticity, how do I calculate sales of a item?

Blake eats two bags of generic potato chips each day, and does not purchase any name-brand chips. Blake's hourly wage increases from $8 to $15, and he decides to eat one name-brand bag and one generic-brand bag each day. Calculate Blake's income elasticity of demand for generic potato chips.

As the price of pizza falls by 10%, the quantity of burgers decreases by 15%. Calculate the cross-price elasticity of demand between pizza and    Are pizza and burgers substitutes or complements?