« previous next »

Author Question: When two goods are perfect substitutes, their indifference curves are straight lines. Indicate ... (Read 78 times)

sarasara

  • Hero Member
  • *****
  • Posts: 521
on: Jun 29, 2018
When two goods are perfect substitutes, their indifference curves are straight lines.
 
  Indicate whether the statement is true or false

Question 2

Suppose that the price of a pound of potatoes increases from 0.75 to 0.90 . Use the midpoint formula to calculate the percentage change in price.
 
  What will be an ideal response?


Dunkey

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

 change in price = 0.90 - 0.75/(0.90 + 0.75)/2 = 0.15/ (1.65)/2 = 0.15/0.825= 18.2


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Discipline-specific training can take years to perfect. Discipline-specific training can take years to perfect.
Breast Palpation Methods, Parallel Lines Breast Palpation Methods, Parallel Lines
Imaginary Thoracic Lines, Right Lateral View Imaginary Thoracic Lines, Right Lateral View
Major trunk lines carrying long-distance traffic crisscrossed the area east of the Mississippi. The Major trunk lines carrying long-distance traffic crisscrossed the area east of the Mississippi. The
At breakfast, a middle-class husband sits absorbed in the newspaper and the public affairs of the da At breakfast, a middle-class husband sits absorbed in the newspaper and the public affairs of the da
Individuals from highly divergent lines created by artificial selection Individuals from highly divergent lines created by artificial selection
Video: Body plan of euglena Animation

For a complete list of videos, visit our video library