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Assignment 5.docx - Assignment #5 Question #5 on Page 96:...

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Assignment #5Question #5 on Page 96:Suppose that your friend’s income increases from $25,000 to $50,000, and, as a result, thequantity of energy drinks she purchases increases from 4 per week to 10 per week. What is yourfriend’s income elasticity of demand for energy drinks?Question #6 on Page 96:Suppose the price of an ad on a typical news web-site falls from $1,000 to $800, and, as a result,the quantity of ads on the news websites rises by 10% and the quantity of ads in newspapersfalls by 3%.
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Term
Fall
Professor
Kropp
Tags
Supply And Demand, News websites, price of an ad

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