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Author Question: When the price of bananas increases by 36%, Nyawira reduces her purchase of peanut butter by 50%. ... (Read 70 times)

kaitlynndavis

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on: Nov 23, 2022

Question 1

Other Demand Elasticities

When Aasir gets a 53% raise, he increases his purchase of donuts by 23%. Aasir's income elasticity of demand for donuts is ________. For Aasir, donuts are a ________ (normal/inferior) good. Round your final answer to two decimal places.
◦ 2.3, normal
◦ 0.43, normal
◦ 0.43, inferior
◦ 0, inferior

Question 2

When the price of bananas increases by 36%, Nyawira reduces her purchase of peanut butter by 50%. Nyawira's cross-price elasticity of demand for peanut butter is ________. For Nyawira, peanut butter and bananas are ________ (substitute/compliments). Round your final answer to two decimal places.
◦ -0.72, substitutes
◦ -1.39, substitutes
◦ -1.39, complements
◦ -0.72, complements
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by kaitlynndavis on Nov 23, 2022

SphnxKickin

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Reply #1 on: Nov 23, 2022
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kaitlynndavis

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Reply 2 on: Nov 23, 2022
:D TYSM

T4T

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Reply 3 on: Yesterday
Excellent

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