elast2 - (c) The cross price elasticity of popcorn with...

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1 Additional Problem 2 : Elasticity For each of the elasticity cases given below, verbally explain what the elasticity coefficient means, and offer an interpretation of the elasticity coefficient. (a) The income elasticity of movies is 3.41. (b) The price elasticity of tobacco is -0.61.
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Unformatted text preview: (c) The cross price elasticity of popcorn with respect to the price of soft drinks is 2.38. (d) The price elasticity of rail service is 0.89. (e) The income elasticity of dental services is 1.00....
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This note was uploaded on 10/26/2009 for the course ECON 180-004-20 taught by Professor Bresnock during the Fall '09 term at UCLA.

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