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suppose that people consume only three goods, as shown in this table: Tennis Balls Tennis Racquets Coca-cola 2010 price $2 $40 $1 2010 quantity 100
suppose that people consume only three goods, as shown in this table:
Tennis Balls Tennis Racquets Coca-cola
2010 price $2 $40 $1
2010 quantity 100 10 200
2011 price $2 $60 $2
2011 quantity 100 10 200
a) What is the percentage change in the price of each of the three goods?What is the percentage change in the overall price level?
b)Do tennis racquets to Coca-cola?Dose the well-being of some people change relative to the well-being of other? Explain.
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