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Author Question: In the figure above, which budget line has the lowest relative price of carrots? A) AD B) BD C) ... (Read 200 times)

magmichele12

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on: Jun 29, 2018
In the figure above, which budget line has the lowest relative price of carrots?
 
  A) AD
  B) BD
  C) CD
  D) The relative price is equal for all three budget lines.

Question 2

If the income elasticity of demand for corn is 0.5, then as income increases
 
  A) the demand for corn will increase.
  B) the demand for corn will decrease.
  C) corn will prove to be an inferior good.
  D) the supply curve of corn will shift leftward.


cuttiesgirl16

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

A

Answer to Question 2

A


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