This topic contains a solution. Click here to go to the answer

Author Question: If your income increased by 10% and the quantity of pizza you demanded increased by 5%, your income ... (Read 153 times)

xclash

  • Hero Member
  • *****
  • Posts: 681

Question 1

If the income elasticity of demand for bread is 0.2. A 5% increase in income will cause
◦ a 25% decrease in the demand for bread.
◦ a 25% increase in the demand for bread.
◦ a 10% increase in the demand for bread.
◦ a 1% increase in the demand for bread.

Question 2

If your income increased by 10% and the quantity of pizza you demanded increased by 5%, your income elasticity of demand for pizza is
◦ 2.
◦ 10%.
◦ 0.5.
◦ -2.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by xclash on May 25, 2020

cam1229

  • Sr. Member
  • ****
  • Posts: 329
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.
Answer Preview
Only 56% of students answer this correctly




xclash

  • Member
  • Posts: 681
Reply 2 on: May 25, 2020
:D TYSM


Bigfoot1984

  • Member
  • Posts: 321
Reply 3 on: Yesterday
Gracias!

 

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

For a complete list of videos, visit our video library