Name a good you consume for which your income elasticity of demand is positive. What happens when your income increases? [LO $\mathbf{4 . 6}$ ]

Name two related goods you consume that would have a negative cross-price elasticity. What happens to your consumption of the second good if the price of the first good increases?

Draw the price effect and the quantity effect for a price change from $\$ 60$ to $\$ 70$. Which effect is larger? Does total revenue increase or decrease? No calculation is necessary.

Name two related goods you consume that would have a positive cross-price elasticity. What happens to your consumption of the second good if the price of the first good increases?

Draw the price effect and the quantity effect for a price change from $\$ 30$ to $\$ 20$. Which effect is larger? Does total revenue increase or decrease? No calculation is necessary.

You are advising a coffee shop manager who wants to estimate how much sales will change if the price of a latte rises. You tell him that he should measure the change in sales using the percentage change in quantity of coffee sold rather than the number of cups of coffee or the total ounces of coffee sold. Similarly, you tell him that he should measure the price increase in percentage terms rather than in terms of absolute dollars. Explain why he should measure elasticity in percentage terms rather than in terms of dollars and cups.

Do you agree with Krist's argument that the demand for national park visits is inelastic at current price levels, so that higher fees are "unlikely to have much effect on park use"? Think about the factors that affect price elasticity, such as the availability and price of substitutes.

Fill each blank with the correct form of good, well, bad, or badly.
Hector’s humorous stories prompted Sarah to comment, “He writes _____, but I’m not sure he is _____ !”

Underline the adjectives, including articles, possessive pronouns, possessive forms of nouns, and proper adjectives in given below sentence.
A good hiking bood needs a sturdy sole.

Using the story earlier, answer the questions below:

(a) What does Sarah Good do to save herself from hanging?

(b) Why would such an action save her?

The researcher in the earlier exercise is content with the second regression. But he has found a number of shells that have large residuals and is considering removing all of them. Is this good practice?

If the quadratic expression $a x^{2}+b x+c$ cannot be factored, one good way to solve the equation $a x^{2}+b x+c=0$ is to use (completing the square, the Zero-Product Property).

Underline the word in parentheses that best completes each sentence. Even though he's very young, Roger has (all ready, already) become a good cook.

Given that rational ignorance discourages some people from becoming informed about elections, is it necessarily a good idea to encourage greater voter turnout? Why or why not?