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 58 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?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

An implantable cardiovert-defibrillator: A dual-chamber ICD device with a pulse generator is implant An implantable cardiovert-defibrillator: A dual-chamber ICD device with a pulse generator is implant
The medical assisting profession offers many settings in which to pursue your career. Good communica The medical assisting profession offers many settings in which to pursue your career. Good communica
Fraternal twins share about 50 percent of their segregating genes. Fraternal twins share about 50 percent of their segregating genes.
Oatmeal and other whole grain cereals are good sources of carbohydrates to start your morning off Oatmeal and other whole grain cereals are good sources of carbohydrates to start your morning off
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
Video: Cleavage and Implantation Animation

For a complete list of videos, visit our video library