1 What degree of income elasticity of demand would you expect for summer holiday breaks to an exotic destination?

1      What degree of income elasticity of demand would you expect for summer holiday breaks to an exotic destination?

2      What cross-price elasticity of demand would you expect to find between:

(a)    Price of dollars/holidays in the USA?

(b)    Holidays in Spain/holidays in Greece?

(c)    Sony games consoles/Sony games cartridges?

3      What is meant by extrapolation?