Author Question: If butter has an income elasticity equal to 0.75, then butter is an inferior good. a. True b. ... (Read 186 times)

ahriuashd

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If butter has an income elasticity equal to 0.75, then butter is an inferior good.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

An understanding of opportunity costs is important to understanding:
 a. how to calculate the total revenue generated by a firm.
  b. how to assess the economic profitability of a firm.
 c. How to calculate the tax liability of a firm.
 d. how accountants calculate accounting profits.



tuwy

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Answer to Question 1

False

Answer to Question 2

b



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