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 101 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
Gracias!

debra928

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Raphael, Studies for The Alba Madonna (verso). Raphael, Studies for The Alba Madonna (verso).
The Abecedarian study was designed to help very low-income African American children prepare for ... The Abecedarian study was designed to help very low-income African American children prepare for ...
The growth in demand for energy use is met by burning fossil fuels The growth in demand for energy use is met by burning fossil fuels
The demand for energy is met by burning coal and other fossil fuels The demand for energy is met by burning coal and other fossil fuels
Relationship between Income Inequality and the Desired Tax Rate Relationship between Income Inequality and the Desired Tax Rate
The Parade of World Income The Parade of World Income
Video: Medullary osmotic gradient: countercurrent multiplier, urea recycling & vasa recta countercurrent exchange

For a complete list of videos, visit our video library