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

Author Question: If a 5 percent decrease in income leads to a 15 percent decrease in the demand for a good, the ... (Read 52 times)

Anajune7

  • Hero Member
  • *****
  • Posts: 574
on: May 24, 2019
If a 5 percent decrease in income leads to a 15 percent decrease in the demand for a good, the income elasticity of demand equals
◦ -1/3 and the good is an inferior good.
◦ 1/3 and demand for the good is income elastic.
◦ 3 and the good is a normal good.
◦ -3 and the demand for the good is income inelastic.
◦ 3 and the good is an inferior good.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Anajune7 on May 24, 2019

chinwesucks

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: May 24, 2019
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.
Answer Preview
Only 56% of students answer this correctly


Anajune7

  • Hero Member
  • *****
  • Posts: 574
Reply #2 on: May 24, 2019
Excellent


chinwesucks

  • Sr. Member
  • ****
  • Posts: 341
Reply #3 on: May 24, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ... An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ...
How to convert fractions to decimals to percent How to convert fractions to decimals to percent
The growth in demand for energy use is met by burning fossil fuels The growth in demand for energy use is met by burning fossil fuels
Nuts are also a good source of B group vitamins (including folate), and vitamin E Nuts are also a good source of B group vitamins (including folate), and vitamin E
Percentage of higher-income Canadian households Percentage of higher-income Canadian households
The original Supply and Demand graph The original Supply and Demand graph
Video: How to make cDNA Animation

For a complete list of videos, visit our video library