« previous next »

Author Question: If the income elasticity for canned food is 0.8, then canned food is an inferior good. Indicate ... (Read 248 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?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Activity, Food Restriction, and Weight Loss Activity, Food Restriction, and Weight Loss
Good hand and body mechanics when applying thumb pressure to the back. Good hand and body mechanics when applying thumb pressure to the back.
Dried fruits are good source of sulfur Dried fruits are good source of sulfur
Food Miles in a Meal Food Miles in a Meal
Food Safety and Technology Food Safety and Technology
Commonly Used Food Additives Commonly Used Food Additives
Video: Angiotensin II - kidneys, adrenal glands and dehydration

For a complete list of videos, visit our video library