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Author Question: The income elasticity of demand for bicycles is +10, which implies that bicycles are A) an ... (Read 386 times)

Garrulous

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on: Jun 29, 2018
The income elasticity of demand for bicycles is +10, which implies that bicycles are
 
  A) an inferior good.
  B) a normal good.
  C) a substitute good for motorbikes.
  D) a complement good for motorbikes.

Question 2

If the marginal social cost of a good equals the marginal private cost of the good, then the marginal external cost of the good
 
  A) is zero.
  B) equals the marginal social cost.
  C) equals the marginal social benefit.
  D) equals the marginal private benefit.


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Joy Chen

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

B

Answer to Question 2

A


Garrulous

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  • Posts: 686
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

irishcancer18

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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