For this case we have that by definition, the slope of a line is given by:
Two points are needed through which the line passes:
Substituting:
Rounding:
Answer:
How many 1/2 cup servings are in 9 cups of cereal?
1 answer:
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Answer:
eY is positive +0.1 therefore bagels are a normal good.
Step-by-step explanation:
Given data:
when, 10% rise in cheese price, 3% fall in bagels quantity observed
when, 10% rise in income, 1% fall in bagels quantity observed
from formula for cross price elasticity of demand, determine
As, eAB is negative, bagels $ cream cheese are complements.
By formula for income elasticity of demand,
we find that
Since eYis positive, bagels are a normal good.