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Author Question: If the quantity demanded of good x rises by 3 and, in response, your income goes up by 2, the income ... (Read 49 times)

kaid0807

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on: Jul 1, 2018
If the quantity demanded of good x rises by 3 and, in response, your income goes up by 2, the income elasticity of demand would be:
 a. 1.5
  b. 6
 c. 3
 d. .20

Question 2

Suppose this is a repeated game where the firms adopt a trigger strategy. What would the trigger strategy look like?
 a. Charge low prices until he charges a high price, and then match
 b. Charge high prices until he charges a low price, then match
 c. Charge a high price till he charges a high price, then charge a low price
  d. Charge a low price till he charges a low price, then charge a high price


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gcook

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

a

Answer to Question 2

b


kaid0807

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  • Posts: 515
Reply 2 on: Jul 1, 2018
:D TYSM

carojassy25

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Reply 3 on: Yesterday
Gracias!

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