Unit 3 Chapter 6 Assignment 0 Saved Help 15 1.5 points eBook Print References Ariya likes to play golf. The number of times per year that she plays depends on both the price of playing a round of golf as well as Ariya's income and the cost of other types of entertainmentin particular, how much it costs to go see a movie instead of playing golf. The three demand schedules in the table below show how many rounds ofgolf per year Ariya will demand at each price under three different scenarios. In scenario D1, Ariya's income is $70,000 per year and movies cost $13 each. In scenario D2, Ariya's income is also $70,000 per year, but the price of seeing a movie rises to $15. And in scenario D3, Ariya's income goes up to $90,000 per year, while movies cost $15. Scenario D1 D2 03 Income per year $70,000 $70,000 $90,000 Price of movie ticket $13 $15 $15 Price of Golf Quantity Demanded $55 15 10 15 $40 25 15 30 $25 40 20 50 Instructions: Round your answers to two decimal places. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. a. Using the data under D1 and Dz, calculate the cross elasticity of Ariya's demand for golf at all three prices. (To do this, apply the midpoints approach to the cross elasticity of demand.) At $55, cross elasticity = -2.8 . Save & Exit Check my work Submit Check my work I 5 Instructions: Round your answers to two decimal places. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. a. Using the data under D1 and Dz, calculate the cross elasticity of Ariya's demand for golf at all three prices. (To do this, apply the midpoints approach to the cross elasticity of demand.) ts At $55, cross elasticity = -2a . eBook At $40, cross elasticity = Print At $25, cross elasticity = ferences Is the cross elasticity the same at all three prices? (Click to select) v . Are movies and golf substitute goods, complementary goods, or independent goods? (Click to select) v . b. Using the data under Dz and D3, calcu ate the income elasticity of Ariya's demand for golf at all three prices. (To do this, apply the midpoints approach to the income elasticity of demand.) At $55, income elasticity of demand = At $40, income elasticity of demand = At $25, income elasticity of demand = Is the income elasticity the same at all three prices? (Click to select) v . ls golf an inferior good? (Click to select) v , it is (Click to select) v . l