« previous next »

Author Question: To say that turnips are inferior goods means that the income elasticity A) is definitely greater ... (Read 58 times)

amal

  • Hero Member
  • *****
  • Posts: 572
on: Jun 29, 2018
To say that turnips are inferior goods means that the income elasticity
 
  A) is definitely greater than 1.
  B) is definitely between 0 and 1.
  C) is positive but could be greater than or less than (or equal to) 1.
  D) is negative.

Question 2

Sun's Gas Station is a firm operating in a perfectly competitive industry. Sun's Gas Station sells each gallon of gas for 3. What is the value of marginal product from hiring the fourth worker?
 
  A) 2,400
  B) 840
  C) 120
  D) 60


Danny Ewald

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Thyroid conditions may make getting pregnant impossible.

The risk of dying before the age of 65 gets lower as family income gets higher. The risk of dying before the age of 65 gets lower as family income gets higher.
As China has embraced its version of capitalism, wealth has grown, as has consumption. Luxury goods ... As China has embraced its version of capitalism, wealth has grown, as has consumption. Luxury goods ...
Household Income in the United States by Quintiles, 2009 Household Income in the United States by Quintiles, 2009
Relationship between Income Inequality and Sociopolitical Instability Relationship between Income Inequality and Sociopolitical Instability
Intergenerational Income Mobility in the United States Intergenerational Income Mobility in the United States
Greater Long-nosed Tree Shrew (Tupaia tana), Borneo and Sumatra. Greater Long-nosed Tree Shrew (Tupaia tana), Borneo and Sumatra.
Video: ETC Protein Complexes & Chemiosmosis (Total ATP Production and ATP Synthase)

For a complete list of videos, visit our video library