« previous next »

Author Question: When two goods are perfect substitutes, their indifference curves are straight lines. Indicate ... (Read 142 times)

sarasara

  • Hero Member
  • *****
  • Posts: 521
on: Jun 29, 2018
When two goods are perfect substitutes, their indifference curves are straight lines.
 
  Indicate whether the statement is true or false

Question 2

Suppose that the price of a pound of potatoes increases from 0.75 to 0.90 . Use the midpoint formula to calculate the percentage change in price.
 
  What will be an ideal response?


Dunkey

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

 change in price = 0.90 - 0.75/(0.90 + 0.75)/2 = 0.15/ (1.65)/2 = 0.15/0.825= 18.2


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

The anatomical position: standing erect, gazing straight ahead, arms down at sides, palms facing for The anatomical position: standing erect, gazing straight ahead, arms down at sides, palms facing for
Balmer Lines in the Spectrum of a Star Balmer Lines in the Spectrum of a Star
Wassily Kandinsky, Black Lines (Schwarze Linien). Wassily Kandinsky, Black Lines (Schwarze Linien).
"Practice makes perfect" "Practice makes perfect"
Flexion of the hip with straight knee Flexion of the hip with straight knee
Video: Endocytosis -Types and Phagocytosis

For a complete list of videos, visit our video library