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

Author Question: If a family spends a large part of its total budget on food, then its demand for food tends to be price (Read 108 times)

cnetterville

  • Hero Member
  • *****
  • Posts: 547
on: May 25, 2020

Question 1

If the income elasticity of demand for a good is 1.5, then good Z is
◦ a luxury good.
◦ an inferior good.
◦ an income-neutral good.
◦ a normal good.

Question 2

If a family spends a large part of its total budget on food, then its demand for food tends to be price
◦ inelastic.
◦ elastic.
◦ unitary elastic.
◦ No way to tell from the information given
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

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

Liamb2179

  • Sr. Member
  • ****
  • Posts: 365
Reply #1 on: May 25, 2020
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


cnetterville

  • Member
  • Posts: 547
Reply 2 on: May 25, 2020
Gracias!

isabelt_18

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

« previous next »
 

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

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.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Defensive mutualism involves species that receive food or shelter in return for providing protection Defensive mutualism involves species that receive food or shelter in return for providing protection
A star-forming region in the Large Magellanic Cloud. A star-forming region in the Large Magellanic Cloud.
China's proposed supercollider plans to be twice the size of the Large Hadron Co China's proposed supercollider plans to be twice the size of the Large Hadron Co
How to find the derivatives of trigonometric functions using the chain rule (Part 2) How to find the derivatives of trigonometric functions using the chain rule (Part 2)
Is It Safe To Get Your Meals from a Food Truck? Is It Safe To Get Your Meals from a Food Truck?
Anatomy of the Large Intestine (colon) Anatomy of the Large Intestine (colon)
Video: Physiology of Asthma

For a complete list of videos, visit our video library