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Author Question: Bus rides and canned soup are inferior goods, so the ________ elasticity of demand is ________. ... (Read 100 times)

burchfield96

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on: Jun 29, 2018
Bus rides and canned soup are inferior goods, so the ________ elasticity of demand is ________.
 
  A) cross; positive
  B) income; positive
  C) income; negative
  D) cross; negative

Question 2

When Sam's Scarves uses 2 knitting machines and employs 3 people, total revenue is 330 a day. When Sam's Scarves uses 2 knitting machines and employs 4 people, total revenue is 360 a day.
 
  The value of marginal product of the third worker is ________. A) 110
  B) 30
  C) 360
  D) 90


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scrocafella

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


burchfield96

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


scrocafella

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


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