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Consider the data in the table below. Price of Average Quantity of Price of Jolt Coke Income of Jolt Jolt sold Year (Sloan) ($loan) Buyers
Consider the data in the table below. Price of Average Quantity of Price of Jolt Coke Income of Jolt Jolt sold Year (Sloan) ($loan) Buyers (3) (cases) 2006 1.00 1.00 40,000 3,000 2007 1.00 1.40 40,000 5,000 2008 1.00 1.40 60.000 3.000 2009 1.40 1.40 60,000 1,000 Using average values. from 2006-2007, the cross elasticity of demand for Jolt equals |:|. Using average values, from 2007-2008, the income elasticity of demand for Jolt equals |:|
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