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Author Question: Duke increased his spending on steak from 7 to 11 per week because of a 12 percent salary increase, ... (Read 73 times)

fasfsadfdsfa

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on: Jun 29, 2018
Duke increased his spending on steak from 7 to 11 per week because of a 12 percent salary increase, so his
 
  A) income elasticity of demand for steak is 1.37.
  B) price elasticity of demand for steak is 1.37.
  C) income elasticity of demand for steak is 3.7.
  D) price elasticity of demand for steak is 3.7.

Question 2

In the absence of property rights, factories will dump waste into a waterway up to the point where ________ equals ________.
 
  A) marginal social cost; marginal social benefit
  B) marginal social cost; marginal private cost
  C) marginal private cost; marginal private benefit
  D) marginal private cost; marginal social cost


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Meganchabluk

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

C

Answer to Question 2

C


fasfsadfdsfa

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

pangili4

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Reply 3 on: Yesterday
Wow, this really help

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