If the income elasticity for chocolate chip cookies is 1.84, then ...

[joe]

If the income elasticity for chocolate chip cookies is 1.84, then chocolate chip cookies are
 
  A) a normal good and income inelastic.
  B) a normal good and income elastic.
  C) an inferior good and income inelastic.
  D) an inferior good and income elastic.

Question 2

The marginal social cost is
 
  A) equal to the marginal private cost plus the marginal external cost.
  B) equal to the marginal private cost minus the marginal external cost.
  C) the same as the marginal private cost.
  D) the same as the marginal external cost.

[mcni194]

Answer to Question 1

B

Answer to Question 2

A

[joe]

Thanks for the timely response, appreciate it

[vickyvicksss]

Excellent