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Economics Lecture Five (view source)

Revision as of 15:36, October 7, 2009

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→‎Honors: extra credit: a collaborative effort to translate the Bible here
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12.  Suppose french fries cost $1 and ketchup 10 cents.  When the price of ketchup goes up to 20 cents, the quantity demanded for french fries falls by 10%.  What is the cross elasticity of demand for french fries with respect to ketchup?  Show your work and make any assumptions you feel are necessary.
 
12.  Suppose french fries cost $1 and ketchup 10 cents.  When the price of ketchup goes up to 20 cents, the quantity demanded for french fries falls by 10%.  What is the cross elasticity of demand for french fries with respect to ketchup?  Show your work and make any assumptions you feel are necessary.
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== Extra Credit for Anyone ==
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"Wiki" software and the internet enable collaborative efforts on the computer to build encyclopedias, such as Conservapedia.com and Wikipedia.com.  Should a collaborative, internet-based effort by the public to produce a new English translation of the Bible be encouraged, discouraged, or made illegal?  You might use some economic principles in answering.
    
== References ==
 
== References ==
Aschlafly
Anthony, Irenaeus, Siteadmin, apieditor, Bureaucrats, Check users, nsAm_Govt_101RO, nsAm_Govt_101RW, nsAm_Govt_101_ta, nsJudgesRO, nsJudgesRW, nsJudges_talkRO, nsJudges_talkRW, nsTeam2RO, nsTeam2RW, nsTeam2_talkRO, nsTeam2_talkRW, oversight, Administrators
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