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Author Question: Studies show that the income elasticity of demand for wine is 5.03 and the income elasticity of ... (Read 196 times)

BrownTown3

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on: Jun 29, 2018
Studies show that the income elasticity of demand for wine is 5.03 and the income elasticity of demand for spirits is 1.21. This indicates that
 
  A) wine is a luxury good and spirits are necessities.
  B) wine and spirits are luxury goods.
  C) wine is a luxury good and spirits are inferior goods.
  D) wine and spirits are highly price elastic.

Question 2

Refer to Figure 2-13. What is the opportunity cost of producing 1 ton of pineapples in Guatemala?
 
  A) 1/2 of a ton of coconuts B) 1 1/3 tons of coconuts
  C) 2 tons of coconuts D) 180 tons of coconuts
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jaygar71

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Reply #1 on: Jun 29, 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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BrownTown3

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Reply 2 on: Jun 29, 2018
:D TYSM

tuate

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

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