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Author Question: Consider the following data for a hypothetical economy.YearAverage Household Income($)Price of ... (Read 80 times)

Triley39

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on: Oct 12, 2022
Consider the following data for a hypothetical economy.

YearAverage Household Income
($)		Price of Transit Passes
($)		Quantity Demanded of Transit PassesPrice of Gasoline ($/litre)Quantity Demanded of Gasoline (millions of litres)
202080 00060 99 0000.951940
202180 00060101 0001.052060

TABLE 4-5

Refer to Table 4-5. The cross-price elasticity of demand for transit passes in terms of the price of gasoline is ________. We can therefore conclude that these two goods are ________.
◦ 0.2; complements
◦ 5.0; complements
◦ 0.33; substitutes
◦ 0.2; substitutes
◦ 0.5; substitutes
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Triley39 on Oct 12, 2022

dsd1212

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Triley39

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

nyrave

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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