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Author Question: If the income elasticity of food is 0.72, then food is A) a necessity and a normal good. B) a ... (Read 790 times)

AEWBW

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on: Jul 1, 2018
If the income elasticity of food is 0.72, then food is
 
  A) a necessity and a normal good.
  B) a normal good.
  C) a necessity.
  D) an inferior good.

Question 2

The above figure shows the isoquants for producing steel. When producing between 10,000 and 20,000 tons there are
 
  A) increasing returns to scale.
  B) decreasing returns to scale.
  C) constant returns to scale.
  D) economies of scale.
Microeconomics ¦ Perloff ¦ 8th Edition
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coyin

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Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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AEWBW

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Reply 2 on: Jul 1, 2018
Excellent

robbielu01

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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