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

Author Question: Your indifference curves for good X (horizontal axis) and good Y (vertical axis) are vertical lines ... (Read 409 times)

NClaborn

  • Hero Member
  • *****
  • Posts: 560
on: Jul 1, 2018
Your indifference curves for good X (horizontal axis) and good Y (vertical axis) are vertical lines because you do not gain any satisfaction from consumption of Y.
 
  As the price of X declines, the change in consumption of X is entirely composed of the: A) income effect.
  B) substitution effect.
  C) Giffen effect.
  D) independent good effect.

Question 2

A demand curve of the form: Q = a - bP, where a and b are positive real numbers,:
 
  A) is an upward sloping straight line.
  B) has a constant price elasticity of demand.
  C) is a downward sloping straight line.
  D) is a parabolic curve.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

flannelavenger

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


NClaborn

  • Member
  • Posts: 560
Reply 2 on: Jul 1, 2018
:D TYSM

isabelt_18

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Vertical and Horizontal Changes in Pressure Vertical and Horizontal Changes in Pressure
Shoulder Stretch by Horizontal Flexion of Arm. Shoulder Stretch by Horizontal Flexion of Arm.
Good body mechanics when facing the head or foot of the table. A. Head and back in alignment. B. ... Good body mechanics when facing the head or foot of the table. A. Head and back in alignment. B. ...
potatoes as a very good source of vitamin B6 potatoes as a very good source of vitamin B6
Determine if each function is continuous, If the function is not continuous, find the x-axis Determine if each function is continuous, If the function is not continuous, find the x-axis
Vector has a magnitude of 5.5 cm and points along the x-axis. Vector has a magnitude of ... Vector has a magnitude of 5.5 cm and points along the x-axis. Vector has a magnitude of ...
Video: DNA Replication Factory and Protein

For a complete list of videos, visit our video library