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Author Question: If a good is inferior, its income elasticity will be A) 0. B) 1.0. C) negative. D) ... (Read 128 times)

cagreen833

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on: Jun 29, 2018
If a good is inferior, its income elasticity will be
 
  A) 0.
  B) 1.0.
  C) negative.
  D) positive.

Question 2

Consider a BMW automobile plant. If the price of BMWs increase by 10 percent and the money wage rate and other costs ________, there will be ________.
 
  A) increase by 10 percent; an increase in BMWs profits
  B) do not change; an increase in BMW's production and profit
  C) increase by 10 percent; an increase in BMWs production
  D) do not change; no change in production


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karlss

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

C

Answer to Question 2

B


cagreen833

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


karlss

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


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