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 163 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?

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?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Selected High-Risk Drugs for Older Adults Selected High-Risk Drugs for Older Adults
The pH scale is logarithmic. A low pH indicates acidic conditions, whereas a high pH indicates ... The pH scale is logarithmic. A low pH indicates acidic conditions, whereas a high pH indicates ...
How to perform the substitution rule with integrals (Part 2) How to perform the substitution rule with integrals (Part 2)
Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a ... Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a ...
Draw an Edgeworth box for two consumers over two goods Draw an Edgeworth box for two consumers over two goods
Video: Structures that affect circulation - venous return

For a complete list of videos, visit our video library