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Author Question: A 10 percent decrease in income decreases the quantity demanded of pizza by 3 percent. The income ... (Read 428 times)

craiczarry

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on: Jun 29, 2018
A 10 percent decrease in income decreases the quantity demanded of pizza by 3 percent. The income elasticity of demand for pizza is
 
  A) -0.3.
  B) 0.3.
  C) 3.3.
  D) 10.0.

Question 2

In the long-run, the quantity of real GDP supplied increases when the price level increases.
 
  Indicate whether the statement is true or false


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ambernicolefink

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

FALSE


craiczarry

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

strudel15

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Reply 3 on: Yesterday
Wow, this really help

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