« previous next »

Author Question: An increase in income causes, the price for ipads _____________ and the quantity demanded for ipads ... (Read 237 times)

imowrer

  • Hero Member
  • *****
  • Posts: 514
on: Jul 1, 2018
An increase in income causes, the price for ipads _____________ and the quantity demanded for ipads ____________.
 a. Increase; increase
 b. Increase; decrease
  c. Decrease; increase
  d. Decrease, decrease

Question 2

Half of all your potential customers would pay 10 for your product but the other half would only pay 8 . You cannot tell them apart. Your marginal costs are 4 . If you set the price at 10, the expected profit is:
 a. 3
  b. 4
  c. 5
  d. 6


Sierray

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

a

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

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?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
The More Things Change, The More They Say the Same: Dividing the Nation's Income The More Things Change, The More They Say the Same: Dividing the Nation's Income
A dose-response curve describes the relationship between the quantity of the chemical entering the ... A dose-response curve describes the relationship between the quantity of the chemical entering the ...
Income per Capita versus Income of the Bottom Quintile Income per Capita versus Income of the Bottom Quintile
Saving Rates by Income Quintile, 2003 Saving Rates by Income Quintile, 2003
Keeping your feelings to yourself may increase your stress level Keeping your feelings to yourself may increase your stress level
Video: Hyperglycemia Animation

For a complete list of videos, visit our video library