Using the data under D1 and D2, calculate the cross elasticity of Lorena’s demand for golf at all three prices. (To do this, apply the midpoints approach to the cross elasticity of demand.)
Instructions: Round your answer to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.
Cross elasticity of Lorena’s demand at the price of $55 =
Instructions: Round your answer to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.
Cross elasticity of Lorena’s demand at the price of $40 =
Instructions: Round your answer to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.
Cross elasticity of Lorena’s demand at the price of $25 =
Is the cross elasticity the same at all three prices?
1 answer
no
0 answers