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Author Question: Which of the following would most likely be highly price-elastic? a. The demand for milk by a ... (Read 42 times)

colton

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on: Jun 30, 2018
Which of the following would most likely be highly price-elastic?
 a. The demand for milk by a household
  b. The demand for insulin by a diabetes patient
  c. The demand for water
  d. The demand for new houses
  e. The demand for coal over a period of one month

Question 2

A consumer's budget line will shift to the left in a parallel manner if:
 a. the price of the good on the X-axis increases.
  b. the price of the good on the Y-axis increases.
  c. the consumer's income increases.
 d. the consumer's income decreases.


Jbrasil

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

d


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colton

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Reply #2 on: Jun 30, 2018
Thank you :)


Jbrasil

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Reply #3 on: Jun 30, 2018
Happy to help you


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