Question

Now that I have more gigabytes of data, I want to buy more movies to stream each month. I used to buy 3 movies a month, but when Connecting U dropped the price of a gigabyte of data from a high of \$20 to a low of \$14.48 (a total decrease of 32.02 percent according to the midpoint formula), I want to buy 5 movies a month. Joe, according to the midpoint formula, by what percentage does your demand for movies increase as a result of the price change for a gigabyte of data? My demand for movies increases by 50 percent. That is correct! What is your cross price elasticity between movies and gigabytes of data? My cross price elasticity is 0.64. My cross price elasticity is -1.56. My cross price elasticity is -1.25.

          Now that I have more gigabytes of data, I want to buy more movies to stream each month.
I used to buy 3 movies a month, but when Connecting U dropped the price of a gigabyte of data from a high of \$20 to a low of \$14.48 (a total decrease of 32.02 percent according to the midpoint formula), I want to buy 5 movies a month.
Joe, according to the midpoint formula, by what percentage does your demand for movies increase as a result of the price change for a gigabyte of data?
My demand for movies increases by 50 percent.
That is correct!
What is your cross price elasticity between movies and gigabytes of data?
My cross price elasticity is 0.64.
My cross price elasticity is -1.56.
My cross price elasticity is -1.25.

now that i have more gigabytes of data i want to buy more movies to stream each month i used to buy 3 movies a month but when connecting u dropped the price of a gigabyte of data from a high 09922

Added by Felix N.

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