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 220 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

Bigfoot1984

  • Member
  • Posts: 321
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

These bumper stickers show an allegiance to New Age religions These bumper stickers show an allegiance to New Age religions
Morotopithecus is the earliest fossil ape to show postcranial adaptations similar to those of the li Morotopithecus is the earliest fossil ape to show postcranial adaptations similar to those of the li
Spouted ritual wine vessel (Guang). Spouted ritual wine vessel (Guang).
Age Differences in Attention to a Puppet Show Video Age Differences in Attention to a Puppet Show Video
buffers commonly employed for biochemical studies buffers commonly employed for biochemical studies
Calculus help: Show that y has three points of inflection and they all lie on... Calculus help: Show that y has three points of inflection and they all lie on...
Video: Barriers - eye structures, digestive mucosa, respiratory mucosa & genitourinary mucosa

For a complete list of videos, visit our video library