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Author Question: A Lorenz curve graphs the difference between money income and market income. Indicate whether the ... (Read 83 times)

ENagel

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on: Jun 29, 2018
A Lorenz curve graphs the difference between money income and market income.
 
  Indicate whether the statement is true or false

Question 2

Even though airfares have been increasing, the revenue earned by airlines has declined. Based on this statement, what may be concluded about price, cross-price, or income elasticity of demand?
 
  What will be an ideal response?


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Rilsmarie951

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Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

The statement suggests that the price elasticity of demand for airlines is price elastic.


ENagel

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

kishoreddi

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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