This topic contains a solution. Click here to go to the answer

Author Question: Consider the two following statements: I. x is an inferior good. II. x exhibits Giffen's Paradox. ... (Read 66 times)

rlane42

  • Hero Member
  • *****
  • Posts: 594
Consider the two following statements: I. x is an inferior good. II. x exhibits Giffen's Paradox. Which of the following is true?
 a. I implies II, but II does not necessarily imply I.
  b. II implies I, but I does not necessarily imply II.
  c. I and II are statements of the same phenomenon.

Question 2

Unique Creations has a monopoly position in magnometers. If the marginal cost for a magnometer is 50 and the price elasticity for magnometers is -4, what is the optimal monopoly price?
 a. 37.50
  b. 41.25
  c. 66.67
  d. 75.00
  e. 82.50



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

iceage

  • Guest
Answer to Question 1

b

Answer to Question 2

c




rlane42

  • Member
  • Posts: 594
Reply 2 on: Jul 1, 2018
:D TYSM


meganmoser117

  • Member
  • Posts: 303
Reply 3 on: Yesterday
Gracias!

 

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

For a complete list of videos, visit our video library