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Author Question: According to a study of the U.S. demand for alcoholic beverages, the price elasticity of demand for ... (Read 46 times)

melly21297

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on: Jun 29, 2018
According to a study of the U.S. demand for alcoholic beverages, the price elasticity of demand for beer is -0.30. Which of the following could explain why the price elasticity of demand for beer is low?
 
  A) More and more people are switching to wine and cocktails rather than beer.
  B) Beer is an inferior alcoholic beverage.
  C) There are only a few major suppliers of beer.
  D) The price of beer is relatively low and for many people it is a habit forming product.

Question 2

Refer to Table 4-7. What is the equilibrium hourly wage (W) and the equilibrium quantity of labor (Q)?
 
  A) W = 10.50; Q = 1,180,000 B) W = 10.50; Q = 590,000
  C) W = 9.50; Q = 570,000 D) W = 11.50; Q = 570,000
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bassamabas

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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melly21297

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

Dominic

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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