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

Author Question: Because Product X has a very small, positive income elasticity of demand, it is likely that product ... (Read 60 times)

tuffie

  • Hero Member
  • *****
  • Posts: 534
on: Jun 29, 2018
Because Product X has a very small, positive income elasticity of demand, it is likely that product X is a
 
  A) luxury.
  B) necessity.
  C) product with many good substitutes.
  D) product with many good complements.

Question 2

The above figure shows the market for blouses. The government decides to impose the sales tax on sellers, as shown in the figure. How much producer surplus is lost?
 
  A) 10,000
  B) 20,000
  C) 25,000
  D) 40,000


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

janeli1

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


tuffie

  • Member
  • Posts: 534
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

triiciiaa

  • Member
  • Posts: 349
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

A close relationship between greenhouse gas emissions and a country’s gross domestic product A close relationship between greenhouse gas emissions and a country’s gross domestic product
Small Plates Small Plates
Relationship between Latitude and Income per Capita Relationship between Latitude and Income per Capita
Do you know why ballpoint pens caps have that small hole? Do you know why ballpoint pens caps have that small hole?
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
The phenotype of an organism is the product of interactions The phenotype of an organism is the product of interactions
Video: Secretin (inhibiting gastric acid secretion), Cholecystokinin (fat digestion) & Cholecystokinin

For a complete list of videos, visit our video library