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

Author Question: The commodity substitution bias is that consumers substitute high-quality goods for low-quality ... (Read 65 times)

washai

  • Hero Member
  • *****
  • Posts: 523
on: Jun 29, 2018
The commodity substitution bias is that consumers substitute high-quality goods for low-quality goods.
 
  Indicate whether the statement is true or false

Question 2

Suppose the price of coffee is 3, the price of a bagel is 2 and a person's budget is 40. The budget line's equation is
 
  A) 2/Qbagel + 3/Qcoffee = 40.
  B) 2(Qbagel) + 3(Qcoffee) = 40.
  C) Qbagel /2 + Qcoffee /3 = 40.
  D) Qbagel + Qcoffee = 40/(3 + 2).


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

shaquita

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

B


washai

  • Hero Member
  • *****
  • Posts: 523
Reply #2 on: Jun 29, 2018
Correct answers!


shaquita

  • Sr. Member
  • ****
  • Posts: 324
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

California high desert cottontail eating a carrot California high desert cottontail eating a carrot
Air Quality Index Air Quality Index
Hot spots highlight areas of high biodiversity Hot spots highlight areas of high biodiversity
Ecosystem goods and services and monetary values Ecosystem goods and services and monetary values
Drugs and Publication Bias Drugs and Publication Bias
How high a hill would a 75-kg hiker have to climb to increase her gravitational potential ... How high a hill would a 75-kg hiker have to climb to increase her gravitational potential ...
Video: Physiology of Asthma

For a complete list of videos, visit our video library