Author Question: Demand for a necessity, such as food, is a. both income and price inelastic b. income inelastic ... (Read 190 times)

waynest

  • Hero Member
  • *****
  • Posts: 553
Demand for a necessity, such as food, is
 a. both income and price inelastic
  b. income inelastic and price elastic
  c. income elastic and price inelastic
  d. both income and price elastic
  e. income elastic and perfectly price inelastic

Question 2

As the economy recovers from a recession, we should expect that
 a. demand for inferior goods will fall and demand for normal goods will rise
  b. demand for both inferior and normal goods will rise
  c. demand for inferior goods will rise and demand for normal goods will fall
  d. demand for both inferior and normal goods will fall
  e. demand for complements will fall



skipfourms123

  • Sr. Member
  • ****
  • Posts: 343
Answer to Question 1

A

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

For a complete list of videos, visit our video library