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Author Question: In the figure above, which budget line results in the most real income in terms of carrots? A) AD ... (Read 129 times)

Shelles

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on: Jun 29, 2018
In the figure above, which budget line results in the most real income in terms of carrots?
 
  A) AD
  B) BD
  C) CD
  D) Real income is equal for all three budget lines.

Question 2

The income elasticity of demand for food
 
  A) does not change when an individual's income changes.
  B) increases as an individual's income increases.
  C) decreases as an individual's income increases.
  D) is negative.


Amiracle

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

D

Answer to Question 2

C


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Shelles

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Reply #2 on: Jun 29, 2018
Thank you :)


Amiracle

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Reply #3 on: Jun 29, 2018
Happy to help you


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