« previous next »

Author Question: If butter has an income elasticity equal to 0.75, then butter is an inferior good. a. True b. ... (Read 193 times)

ahriuashd

  • Hero Member
  • *****
  • Posts: 535
on: Jun 30, 2018
If butter has an income elasticity equal to 0.75, then butter is an inferior good.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

An understanding of opportunity costs is important to understanding:
 a. how to calculate the total revenue generated by a firm.
  b. how to assess the economic profitability of a firm.
 c. How to calculate the tax liability of a firm.
 d. how accountants calculate accounting profits.


tuwy

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Demonstration of equal segregation within one meiocyte in the yeast S. cerevisiae Demonstration of equal segregation within one meiocyte in the yeast S. cerevisiae
Inferior orbital fissure Inferior orbital fissure
The More Things Change, The More They Say the Same: Dividing the Nation's Income The More Things Change, The More They Say the Same: Dividing the Nation's Income
Good contact feels full, confident, and deliberate and establishes a warm connection between massage ... Good contact feels full, confident, and deliberate and establishes a warm connection between massage ...
Rice noodles are a good gluten-free substitute for pasta Rice noodles are a good gluten-free substitute for pasta
Midsagittal section indicating locations of true and false pelves Midsagittal section indicating locations of true and false pelves
Video: Genetics of Cancer

For a complete list of videos, visit our video library