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.
Answer:
Step-by-step explanation:
x+y=a
a=x+y
x−y=b
b=x−y
Good luck honey!
Amount charged for downloading individual songs = x dollars
Amount charged for downloading an entire album = y dollars
In respect to person A:
6x + 2y = 25.92
3x + y = 12.96
y = 12.96 - 3x
In respect to person B:
4x + 3y = 33.93
Putting the value of y from the first equation in the second, we get
4x + 3(12.96 - 3x) = 33.93
4x + 38.88 - 9x = 33.93
- 5x = - 4.95
x = 0.99 dollars
Putting the value of x in the first equation, we get
y = 12.96 - 3x
= 12.96 - 2.97
= 9.99 dollars
