« previous next »

Author Question: If the income elasticity for canned food is 0.8, then canned food is an inferior good. Indicate ... (Read 260 times)

hbsimmons88

  • Hero Member
  • *****
  • Posts: 526
on: Jun 29, 2018
If the income elasticity for canned food is 0.8, then canned food is an inferior good.
 
  Indicate whether the statement is true or false

Question 2

Refer to Figure 3-4. If the price is 10
 
  A) there would be a surplus of 600 units. B) there would be a surplus of 200 units.
  C) there would be a shortage of 200 units. D) there would be a shortage of 600 units.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


catron30

  • Sr. Member
  • ****
  • Posts: 297
Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Good alignment for sitting posture. Good alignment for sitting posture.
Food Sources of Carbohydrates You need to eat at least 130 grams of carbohydrates daily Food Sources of Carbohydrates You need to eat at least 130 grams of carbohydrates daily
Carrots are a good source of vitamin A Carrots are a good source of vitamin A
Reducing Pesticides in Food Reducing Pesticides in Food
Superior & inferior view of the tarsus (ankle) Superior & inferior view of the tarsus (ankle)
Classical Conditioning and Food Classical Conditioning and Food
Video: Gastroesophageal Reflux Disease (GERD)

For a complete list of videos, visit our video library