Sunday, January 3, 2010

Two-Minute Drill -- Complementary Goods

Summary: Find the cross elasticity coefficient.

The answer is -.4% which means that pork is a substitute for beef.

About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.


Post a Comment

Have thoughts about this post? Want to share your comments about Teaching AP Economics? This is your chance.