Question
Adam and Barb go to the store to purchase some lottery tickets. Without looking at the price, Adam says, I'll take 10 lottery tickets, and
Adam and Barb go to the store to purchase some lottery tickets. Without looking at the price, Adam says, "I'll take 10 lottery tickets," and Barb says, "I'll take $10 worth of lottery tickets." What is each person's price elasticity of demand for lottery tickets? Explain your answer.
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
