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Author Question: Which of the following could explain why the demand for table salt is inelastic? A) Salt is a ... (Read 168 times)

Kikoku

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Which of the following could explain why the demand for table salt is inelastic?
 
  A) Salt is a luxury for high-income consumers but a necessity for low-income consumers.
  B) Salt is a rare commodity.
  C) Salt is a luxury good.
  D) Households devote a very small portion of their income to salt purchases.

Question 2

Assume the government reduces your welfare check by 1 for every 2 that you earn on the job while on welfare. How will this tax affect your labor supply decisions? What is the implicit tax rate of such a policy?
 
  What will be an ideal response?


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Anonymous

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Kikoku

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)


milbourne11

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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