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Author Question: The government decided to reduce taxes on fast-food to increase revenue. The government assumes that ... (Read 145 times)

Pea0909berry

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on: Jul 1, 2018
The government decided to reduce taxes on fast-food to increase revenue. The government assumes that fast-food products have
 a. An inelastic demand
 b. An elastic demand
 c. A demand curve that is upward sloping
  d. Unitary elastic demand curve

Question 2

If the apartment owner decides to fine both the roommates if the apartment is dirty, such that now if neither of them clean they each get a 5 utility loss, what would the new equilibrium be now?
 a. John cleans, Joe doesn't
 b. Joe cleans, John doesn't
 c. Neither of them clean the apartment
  d. Both A&B


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nital

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

d


Pea0909berry

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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