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Author Question: The price of wheat has fallen since 1950. Which of the following explains this price decline? A) ... (Read 73 times)

jerry coleman

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on: Jun 29, 2018
The price of wheat has fallen since 1950. Which of the following explains this price decline?
 
  A) The price elasticity of demand is less than 1 (in absolute value) and wheat is an inferior good.
  B) The price elasticity of demand is greater than 1 (in absolute value) and the income elasticity of demand for wheat is greater than 1.
  C) The price elasticity of demand is greater than 1 (in absolute value) and the income elasticity of demand for wheat is low.
  D) The price elasticity of demand is less than 1 (in absolute value) and the income elasticity of demand for wheat is low.

Question 2

Refer to Table 4-8. Suppose that the quantity of labor demanded decreases by 40,000 at each wage level. What are the new free market equilibrium hourly wage and the new equilibrium quantity of labor?
 
  A) W = 10.00; Q = 390,000 B) W = 8.50; Q = 340,000
  C) W = 9.50; Q = 380,000 D) W = 8.00; Q = 350,000
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gasdhashg

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Reply #1 on: Jun 29, 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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jerry coleman

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Reply 2 on: Jun 29, 2018
:D TYSM

aruss1303

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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