This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The less responsive consumers are to a change in the price of a product, _____. a. the more ... (Read 64 times)

kodithompson

  • Hero Member
  • *****
  • Posts: 566
on: Jun 30, 2018
The less responsive consumers are to a change in the price of a product, _____.
 a. the more price-elastic is the supply curve
  b. the more income-inelastic is the demand curve
  c. the more price-inelastic is the demand curve
  d. the more income-elastic is the supply curve
  e. the more price-elastic is the demand curve

Question 2

Betty spends all her income on wine and brie. Currently she gets 30 utils from the last bottle of wine and 15 utils from the last package of brie. The price of wine is 6 per bottle and the price of brie is 4 per package.
 a. Betty cannot increase her total utility by changing the combination of wine and brie she consumes.
  b. Betty can increase her total utility by buying more wine and less brie.
 c. Betty can increase her total utility by buying more brie and less wine.
 d. Betty could increase her total utility by buying less of both brie and wine.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mjbamaung

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

b


kodithompson

  • Member
  • Posts: 566
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

chjcharjto14

  • Member
  • Posts: 342
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Climate Change Climate Change
Product & Process Influences - Sterile Products Product & Process Influences - Sterile Products
The direct product of phosphate hydrolysis from PEP is the enol form of pyruvate The direct product of phosphate hydrolysis from PEP is the enol form of pyruvate
If a graph has the following x-intercepts, which value of x is the instantaneous rate of change ... If a graph has the following x-intercepts, which value of x is the instantaneous rate of change ...
(left) Urine sample from an unaffected person does not change color upon exposure to air. (right) Ur (left) Urine sample from an unaffected person does not change color upon exposure to air. (right) Ur
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Properties of macromolecules (Explained with No Audio)

For a complete list of videos, visit our video library