Question: Elasticity and Its Applications Discovering Data Let's compare people's purchases of groceries with their purchases of electronics and appliances. The accompanying diagram shows retail sales

Elasticity and Its Applications Discovering Data
Let's compare people's purchases of groceries with their purchases of electronics and appliances.
The accompanying diagram shows retail sales levels of groceries and electronics from 2007 to 2009. Both series have been indexed so that the level of sales in December 2007 is 100.
What happened to food sales over the 2007-2009 recession?
Food sales
What about sales of electronics?
Electronics sales
Elasticity and Its Applications Discovering Data Let's compare people's purchases of

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