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

Author Question: Studies show that the income elasticity of demand for wine is 5.03 and the income elasticity of ... (Read 132 times)

BrownTown3

  • Hero Member
  • *****
  • Posts: 564
on: Jun 29, 2018
Studies show that the income elasticity of demand for wine is 5.03 and the income elasticity of demand for spirits is 1.21. This indicates that
 
  A) wine is a luxury good and spirits are necessities.
  B) wine and spirits are luxury goods.
  C) wine is a luxury good and spirits are inferior goods.
  D) wine and spirits are highly price elastic.

Question 2

Refer to Figure 2-13. What is the opportunity cost of producing 1 ton of pineapples in Guatemala?
 
  A) 1/2 of a ton of coconuts B) 1 1/3 tons of coconuts
  C) 2 tons of coconuts D) 180 tons of coconuts
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jaygar71

  • Sr. Member
  • ****
  • Posts: 323
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.
Answer Preview
Only 50% of students answer this correctly


BrownTown3

  • Member
  • Posts: 564
Reply 2 on: Jun 29, 2018
Wow, this really help

amit

  • Member
  • Posts: 364
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

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?

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?

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?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Sociologists use income, education, and occupational prestige to measure social class. For most ... Sociologists use income, education, and occupational prestige to measure social class. For most ...
Effect of an Exogenous Shift in Income Effect of an Exogenous Shift in Income
Saving Rate by Decile of Income per Capita Saving Rate by Decile of Income per Capita
Variable and absorption costing, explaining operating-income differences. Variable and absorption costing, explaining operating-income differences.
Lone-parent household income and the degree of vulnerability Lone-parent household income and the degree of vulnerability
Please show all your work (4 marks) Please show all your work (4 marks)
Video: Brain Lobes Animation

For a complete list of videos, visit our video library