please can you answer my questions When Alex's income increased from $5,000 to $7,000, he increased his consumption of bagels from 6 to 10 a month and decreased his consumption of donuts from 14 to 8 a month.Calculate Alex's income elasticity of demand for bagels and donuts.>>> Answer to 2 decimal places.>>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign.Alex's income elasticity of demand for bagels is 0.66.Alex's income elasticity of demand for donuts is When the price of a loaf of garlic bread increases by 4 percent, the quantity of lasagna demanded decreases by 2 percent.Calculate the cross elasticity of demand for lasagna with respect to the price of a loaf of garlic bread.The cross elasticity of demand for lasagna with respect to the price of a loaf of garlic bread is - 0.5.>>> Answer to 2 decimal places.>>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign.Garlic bread and lasagna are complements

When Alex's income increased from $5,000 to $7,000, he increased his consumption of bagels from 6 to 10 a month and decreased his consumption of donuts from 14 to 8 a month. Calculate Alex's income elasticity of demand for bagels and donuts.

When Alex's income increased from $5,000 to $7,000, he increased his consumption of bagels from 6 to 10 a month and decreased his consumption of donuts from 14 to 8 a month. Calculate Alex's income elasticity of demand for bagels and donuts.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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