The demand for golf clubs has increased from 6,000 to 8,000 after the price of golf balls

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The demand for golf clubs has increased from 6,000 to 8,000 after the price of golf balls has fallen from $1.80 to $1.40.

(a) Calculate the cross-price elasticity of demand between golf clubs and golf balls using the mid-point formula.

(b) Based on your answer in part (a), what do you think is the economic relationship between these two goods?

Posted Date: Jul 02, 2024 04:30 AM

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The demand for golf clubs has increased from 6,000 to 8,000 after the price of golf balls

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