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

Author Question: Consider the two following statements: I. x is an inferior good. II. x exhibits Giffen's Paradox. ... (Read 52 times)

rlane42

  • Hero Member
  • *****
  • Posts: 594
on: Jul 1, 2018
Consider the two following statements: I. x is an inferior good. II. x exhibits Giffen's Paradox. Which of the following is true?
 a. I implies II, but II does not necessarily imply I.
  b. II implies I, but I does not necessarily imply II.
  c. I and II are statements of the same phenomenon.

Question 2

Unique Creations has a monopoly position in magnometers. If the marginal cost for a magnometer is 50 and the price elasticity for magnometers is -4, what is the optimal monopoly price?
 a. 37.50
  b. 41.25
  c. 66.67
  d. 75.00
  e. 82.50


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

iceage

  • Guest
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

c


rlane42

  • Member
  • Posts: 594
Reply 2 on: Jul 1, 2018
Excellent

Joy Chen

  • Member
  • Posts: 354
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Inflammation. Inflammation is characterized by the presence of swelling, redness, heat, and pain. Sw Inflammation. Inflammation is characterized by the presence of swelling, redness, heat, and pain. Sw
Jeremy Deller, A Good Day for Cyclists (painted by Sarah Tynan). Jeremy Deller, A Good Day for Cyclists (painted by Sarah Tynan).
Inferior mirage Inferior mirage
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 ...
Good body mechanics when facing the head or foot of the table. A. Head and back in alignment. B. ... Good body mechanics when facing the head or foot of the table. A. Head and back in alignment. B. ...
Apply thumb pressure to points along the spine bilaterally from superior or inferior. Keep your ... Apply thumb pressure to points along the spine bilaterally from superior or inferior. Keep your ...
Video: How to find out if a population is evolving?

For a complete list of videos, visit our video library