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Author Question: For an inferior good: a. the income elasticity is positive. b. the income elasticity if negative. ... (Read 114 times)

melina_rosy

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on: Jun 30, 2018
For an inferior good:
 a. the income elasticity is positive.
  b. the income elasticity if negative.
  c. the income elasticity is zero.
  d. the income elasticity is unity.

Question 2

A firm's accounting profit is called a normal profit when its:
 a. accounting profit is equal to zero.
  b. economic profit is equal to zero.
  c. opportunity cost is equal to zero.
  d. average cost is minimum.
  e. economic profit is equal to accounting profit.


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cpetit11

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

b


melina_rosy

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

marict

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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