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Author Question: When the price of milk is 3 per bottle, Steve purchases 20 bottles of milk. When the price increases ... (Read 120 times)

appyboo

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on: Jun 29, 2018
When the price of milk is 3 per bottle, Steve purchases 20 bottles of milk. When the price increases to 6, Steve's consumption falls to 15 bottles. Steve's arc elasticity of demand for milk is:
 
  A) -0.25.
  B) -0.43.
  C) -0.50.
  D) -0.75.

Question 2

________ are the portion of claims that policyholders must pay for out of their own pockets.
 
  A) Dividends
  B) Tokens
  C) Coupons
  D) Deductibles


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Kingjoffery

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

B

Answer to Question 2

D


appyboo

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

kthug

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Reply 3 on: Yesterday
Excellent

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