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book Microeconomics 6th Edition by Robert Hall, Shirley Kuiper, Marc Lieberman cover

Microeconomics 6th Edition by Robert Hall, Shirley Kuiper, Marc Lieberman

Edition 6ISBN: 978-1133708735
book Microeconomics 6th Edition by Robert Hall, Shirley Kuiper, Marc Lieberman cover

Microeconomics 6th Edition by Robert Hall, Shirley Kuiper, Marc Lieberman

Edition 6ISBN: 978-1133708735
Exercise 8
Each of the following tells us something specific about the nature of spiral notebooks: either that the demand for them is elastic or inelastic; that they are normal or inferior; or that they are substitutes or complements for another good. In each case,state the relevant conclusion about spiral notebooks.
a. The income elasticity of demand for spiral notebooks is ?0.5
b. The price elasticity of demand for spiral notebooks is 1.5
c. The cross-price elasticity of demand for spiral notebooks with tablet computers is 0.8
Explanation
Verified
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Microeconomics 6th Edition by Robert Hall, Shirley Kuiper, Marc Lieberman
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