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Author Question: A 10 percent increase in income brings about a 15 percent decrease in the demand for a good. What is ... (Read 122 times)

dejastew

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on: Jun 29, 2018
A 10 percent increase in income brings about a 15 percent decrease in the demand for a good. What is the income elasticity of demand and is the good a normal good or an inferior good?
 
  What will be an ideal response?

Question 2

The Atlantic City Expressway is a highway that runs from outside Philadelphia to Atlantic City, New Jersey. It is notoriously congested during the summer weekends when many people are driving to the beach about the same time.
 
  The marginal private cost for a driver of driving on the Expressway includes I. the cost of gasoline. II. the cost of increasing congestion for everyone else. A) I only
  B) II only
  C) Both I and II
  D) Neither I nor II
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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daiying98

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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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dejastew

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Reply #2 on: Jun 29, 2018
Thank you :)


daiying98

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Reply #3 on: Jun 29, 2018
Happy to help you


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