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

Author Question: If the quantity demanded of good x rises by 3 and, in response, your income goes up by 2, the income ... (Read 85 times)

kaid0807

  • Hero Member
  • *****
  • Posts: 515
on: Jul 1, 2018
If the quantity demanded of good x rises by 3 and, in response, your income goes up by 2, the income elasticity of demand would be:
 a. 1.5
  b. 6
 c. 3
 d. .20

Question 2

Suppose this is a repeated game where the firms adopt a trigger strategy. What would the trigger strategy look like?
 a. Charge low prices until he charges a high price, and then match
 b. Charge high prices until he charges a low price, then match
 c. Charge a high price till he charges a high price, then charge a low price
  d. Charge a low price till he charges a low price, then charge a high price


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

gcook

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

a

Answer to Question 2

b


kaid0807

  • Member
  • Posts: 515
Reply 2 on: Jul 1, 2018
Gracias!

cici

  • Member
  • Posts: 325
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

The first commercially successful typewriter, manufactured in quantity beginning in 1874, surely fue The first commercially successful typewriter, manufactured in quantity beginning in 1874, surely fue
Empathy draws a more positive response from the patient because it is based on the willingness of th Empathy draws a more positive response from the patient because it is based on the willingness of th
Jeremy Deller, A Good Day for Cyclists (painted by Sarah Tynan). Jeremy Deller, A Good Day for Cyclists (painted by Sarah Tynan).
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
DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ... DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ...
Experiment: Response to Auxin Experiment: Response to Auxin
Video: Power Supply Polyacrylamide Gel Protein Sample

For a complete list of videos, visit our video library