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Unit 4A Quiz 3

Unit 4A Quiz 3

Q Question 1 1 / 1 pts As Mary's income increases by 20 percent, her demand for tickets to National Hockey League games increases by 10 percent. Mary's demand for tickets is income ________; for Mary, hockey tickets are ________ good. Question 2 1 / 1 pts Microsoft raises the price of its Office software by 10 percent. As a result, the quantity of personal computers demanded at the current price decreases by 5 percent. What is the cross elasticity of demand for personal computers with respect to the price of Microsoft Office software? Question 3 1 / 1 pts The income elasticity of demand is Question 4 1 / 1 pts For which of the following pairs of goods is the cross elasticity of demand positive? Question 5 1 / 1 pts When consumers' incomes increased 6 percent, the quantity of wine bought increased 12 percent. This result means

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1 inelastic; a normal 2 -0.5