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

Author Question: The commodity substitution bias is that consumers substitute high-quality goods for low-quality ... (Read 148 times)

washai

  • Hero Member
  • *****
  • Posts: 523
on: Jun 29, 2018
The commodity substitution bias is that consumers substitute high-quality goods for low-quality goods.
 
  Indicate whether the statement is true or false

Question 2

Suppose the price of coffee is 3, the price of a bagel is 2 and a person's budget is 40. The budget line's equation is
 
  A) 2/Qbagel + 3/Qcoffee = 40.
  B) 2(Qbagel) + 3(Qcoffee) = 40.
  C) Qbagel /2 + Qcoffee /3 = 40.
  D) Qbagel + Qcoffee = 40/(3 + 2).


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

shaquita

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

B


washai

  • Hero Member
  • *****
  • Posts: 523
Reply #2 on: Jun 29, 2018
Correct answers!


shaquita

  • Sr. Member
  • ****
  • Posts: 324
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

(a) With few ticks, moose retain a brown coat; (b) at high numbers of ticks, moose self-groom, destr (a) With few ticks, moose retain a brown coat; (b) at high numbers of ticks, moose self-groom, destr
Bipolar disease. The term bipolar means “pertaining to two poles.” The individual with this form of Bipolar disease. The term bipolar means “pertaining to two poles.” The individual with this form of
Quality Control Microbiology Quality Control Microbiology
How to integrate using inverse trigonometric substitution (Question 5) How to integrate using inverse trigonometric substitution (Question 5)
High net primary productivity High net primary productivity
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
Video: Bone Growth and Remodeling

For a complete list of videos, visit our video library