« previous next »

Author Question: To say that turnips are inferior goods means that the income elasticity A) is definitely greater ... (Read 69 times)

amal

  • Hero Member
  • *****
  • Posts: 572
on: Jun 29, 2018
To say that turnips are inferior goods means that the income elasticity
 
  A) is definitely greater than 1.
  B) is definitely between 0 and 1.
  C) is positive but could be greater than or less than (or equal to) 1.
  D) is negative.

Question 2

Sun's Gas Station is a firm operating in a perfectly competitive industry. Sun's Gas Station sells each gallon of gas for 3. What is the value of marginal product from hiring the fourth worker?
 
  A) 2,400
  B) 840
  C) 120
  D) 60


Danny Ewald

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

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.

The Abecedarian study was designed to help very low-income African American children prepare for ... The Abecedarian study was designed to help very low-income African American children prepare for ...
Middle age brings greater career satisfaction than young adulthood, sometimes through major job ... Middle age brings greater career satisfaction than young adulthood, sometimes through major job ...
Income per Capita versus Inequality Income per Capita versus Inequality
Effect of an Exogenous Shift in Income Effect of an Exogenous Shift in Income
Relationship between Income per Capita and Population Growth Relationship between Income per Capita and Population Growth
Draw an Edgeworth box for two consumers over two goods Draw an Edgeworth box for two consumers over two goods
Video: Blood Pressure Measurement

For a complete list of videos, visit our video library