« previous next »

Author Question: The increase in the demand for widgets, shown in the figure above, is the result of an increase in ... (Read 72 times)

nautica902

  • Hero Member
  • *****
  • Posts: 591
on: Jun 29, 2018
The increase in the demand for widgets, shown in the figure above, is the result of an increase in people's incomes from 28,500 per year to 31,500 per year. Therefore, the income elasticity of demand for widgets is
 
  A) 0.25.
  B) 0.75.
  C) 1.33.
  D) 4.00.

Question 2

The figure above shows Sam's budget line. Which of the following would result in Sam's budget line rotating outward and not changing its horizontal intercept?
 
  A) a fall in the price of a pound of coffee
  B) a rise in the price of a pound of coffee
  C) a fall in the price of a gallon of gasoline
  D) a rise in the price of a gallon of gasoline


Kaytorgator

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Salt marsh channels shown in cross section. Salt marsh channels shown in cross section.
Pneumothorax. Figure illustrates how puncture of thoracic wall and tearing of pleural membrane allow Pneumothorax. Figure illustrates how puncture of thoracic wall and tearing of pleural membrane allow
The monthly changes of angle between the direction of illumination by the Sun and viewing from Earth The monthly changes of angle between the direction of illumination by the Sun and viewing from Earth
To maintain global power requires the continuous development of weapons. Shown here is the Osprey. ... To maintain global power requires the continuous development of weapons. Shown here is the Osprey. ...
The 2-deoxyglucose technique. The accumulation of radioactivity is shown in three frontal sections ... The 2-deoxyglucose technique. The accumulation of radioactivity is shown in three frontal sections ...
Production of prototrophs as a result of genetic recombination Production of prototrophs as a result of genetic recombination
Video: Structure of a Ribosome

For a complete list of videos, visit our video library