In Brazil, the income elasticity of demand for dairy is 0.7 and for fruit and vegetables it is 0.5. These elasticities mean that if the income of Brazilians decreases, they will purchase ________ dairy and ________ fruits and vegetables.
A) less; less
B) more; more
C) more; less
D) less; more
Question 2
Michigan Radio is the state's most listened-to public radio service, attracting approximately 400,000 listeners each week. The on-air fundraiser, which ran during October 2010, generated over 7400 pledges from donors.
The money raised helps pay for programming costs at the station, with membership support being the single largest source of income. The 392,600 listeners who did not call and donate can be classified as what? A) free riders
B) marginal beneficiaries
C) rival consumers
D) rationally ignorant
Worldwide Variations in Population and Income Levels
Marginal Supply - Demand Curve
Income per Capita versus Inequality
Disitive Time For Vegetables
Hunter’s chicken with vegetables