A 10 percent increase in income has caused a 5 percent decrease in the quantity demanded. The income ...

Author Question: A 10 percent increase in income has caused a 5 percent decrease in the quantity demanded. The income ... (Read 99 times)

a0266361136

Hero Member
Posts: 538

on: Jun 29, 2018

A 10 percent increase in income has caused a 5 percent decrease in the quantity demanded. The income elasticity is

A) 0.5.
B) -0.5.
C) 2.0.
D) -2.0.

Question 2

To two hunters, a deer running in a forest is

A) nonrival and nonexcludable.
B) nonrival and excludable.
C) rival and nonexcludable.
D) rival and excludable.

ky860224

Sr. Member
Posts: 350

Reply #1 on: Jun 29, 2018

Answer to Question 1

B

Answer to Question 2

C

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