This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a good is inferior, its income elasticity will be A) 0. B) 1.0. C) negative. D) ... (Read 55 times)

cagreen833

  • Hero Member
  • *****
  • Posts: 544
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

karlss

  • Sr. Member
  • ****
  • Posts: 321
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


cagreen833

  • Hero Member
  • *****
  • Posts: 544
Reply #2 on: Jun 29, 2018
Thank you :)


karlss

  • Sr. Member
  • ****
  • Posts: 321
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

A good posture for practicing meditation is seated in a chair with the back upright and in ... A good posture for practicing meditation is seated in a chair with the back upright and in ...
Determining a good table height. Stand facing the table with your hands at your sides. Adjust the ... Determining a good table height. Stand facing the table with your hands at your sides. Adjust the ...
Regional Variation in Income and Access to the Sea Regional Variation in Income and Access to the Sea
How an Increase in Income Inequality Affects the Desired Tax Rate How an Increase in Income Inequality Affects the Desired Tax Rate
Solow Model with Saving Dependent on Income Level Solow Model with Saving Dependent on Income Level
Most Canadian seniors rated their health as good to excellent. Most Canadian seniors rated their health as good to excellent.
Video: Sickle Cell Anemia

For a complete list of videos, visit our video library