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Author Question: Assume the market demand for wheat may be written as Q = 45 - 2p + 0.3Y + 1pb where Y refers to ... (Read 73 times)

ec501234

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on: Jul 1, 2018
Assume the market demand for wheat may be written as Q = 45 - 2p + 0.3Y + 1pb where Y refers to income and pb refers to the price of barley. Assuming that wheat and barley both sell for 1, and income is 20, calculate the price elasticity, cross price elasticity and income elasticity for wheat.
 
  What will be an ideal response?

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Because demand curves slope downward according to the Law of Demand, the price elasticity of demand is a negative number.
 
  Indicate whether the statement is true or false
Microeconomics ¦ Perloff ¦ 8th Edition
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ms_sulzle

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Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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ec501234

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

billybob123

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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