Author Question: In the figure above, which budget line results in the most real income in terms of carrots? A) AD ... (Read 143 times)

Shelles

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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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Answer to Question 1

D

Answer to Question 2

C



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