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

Author Question: Assume a distant tribe only harvests breadfruit and its entire livelihood depends on it. If the ... (Read 157 times)

CQXA

  • Hero Member
  • *****
  • Posts: 546
on: Jun 29, 2018
Assume a distant tribe only harvests breadfruit and its entire livelihood depends on it. If the price of breadfruit were to rise suddenly how might it be possible that this tribe would actually consume more breadfruit?
 
  What will be an ideal response?

Question 2

A monopoly that can perfectly price discriminate creates no deadweight loss.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

orangecrush

  • Sr. Member
  • ****
  • Posts: 350
Reply #1 on: Jun 29, 2018
Answer to Question 1

The substitution effect would cause a decline in the consumption of bread fruit ceteris paribus. However, because breadfruit is the principle means by which the tribe earns its income there is also an income effect. If breadfruit is a normal good and the income effect is strong enough it can outweigh the substitution effect.

Answer to Question 2

TRUE


CQXA

  • Member
  • Posts: 546
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

Alyson.hiatt@yahoo.com

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Thyroid conditions may make getting pregnant impossible.

Apply two-hand petrissage over the entire upper back. Place palms flat on back next to each other. ... Apply two-hand petrissage over the entire upper back. Place palms flat on back next to each other. ...
Standing at the head of the table, apply oil or lotion to the entire back with bilateral stroking. ... Standing at the head of the table, apply oil or lotion to the entire back with bilateral stroking. ...
Apply palm compressions using both hands over the entire back and shoulder musculature. Apply palm compressions using both hands over the entire back and shoulder musculature.
Apply lotion to the entire hand and arm, moving up the arm from hand to shoulder. Use moderate ... Apply lotion to the entire hand and arm, moving up the arm from hand to shoulder. Use moderate ...
Bidirectional Thumb Pressure on Plantar Surface. Apply bidirectional thumb pressure over the entire ... Bidirectional Thumb Pressure on Plantar Surface. Apply bidirectional thumb pressure over the entire ...
(A) Effleurage to entire arm to apply oil or lotion. (B) Apply with flat palms and fingers from ... (A) Effleurage to entire arm to apply oil or lotion. (B) Apply with flat palms and fingers from ...
Video: Red alga life cycle Animation

For a complete list of videos, visit our video library