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

Author Question: The less responsive consumers are to a change in the price of a product, _____. a. the more ... (Read 71 times)

kodithompson

  • Hero Member
  • *****
  • Posts: 566
on: Jun 30, 2018
The less responsive consumers are to a change in the price of a product, _____.
 a. the more price-elastic is the supply curve
  b. the more income-inelastic is the demand curve
  c. the more price-inelastic is the demand curve
  d. the more income-elastic is the supply curve
  e. the more price-elastic is the demand curve

Question 2

Betty spends all her income on wine and brie. Currently she gets 30 utils from the last bottle of wine and 15 utils from the last package of brie. The price of wine is 6 per bottle and the price of brie is 4 per package.
 a. Betty cannot increase her total utility by changing the combination of wine and brie she consumes.
  b. Betty can increase her total utility by buying more wine and less brie.
 c. Betty can increase her total utility by buying more brie and less wine.
 d. Betty could increase her total utility by buying less of both brie and wine.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mjbamaung

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

b


kodithompson

  • Member
  • Posts: 566
Reply 2 on: Jun 30, 2018
Wow, this really help

sultansheikh

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Drag the labels to indicate the change in the size of the reservoir. . . Drag the labels to indicate the change in the size of the reservoir. . .
The Revolutionary Change in the U.S Workforce The Revolutionary Change in the U.S Workforce
The induced conformational change in hexokinase The induced conformational change in hexokinase
How to solve any percent change problem How to solve any percent change problem
Fossil fuel emissions and climate change Fossil fuel emissions and climate change
Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a ... Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a ...
Video: Immune responses Animation

For a complete list of videos, visit our video library