« previous next »

Author Question: If butter has an income elasticity equal to 0.75, then butter is an inferior good. a. True b. ... (Read 194 times)

ahriuashd

  • Hero Member
  • *****
  • Posts: 535
on: Jun 30, 2018
If butter has an income elasticity equal to 0.75, then butter is an inferior good.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

An understanding of opportunity costs is important to understanding:
 a. how to calculate the total revenue generated by a firm.
  b. how to assess the economic profitability of a firm.
 c. How to calculate the tax liability of a firm.
 d. how accountants calculate accounting profits.


tuwy

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

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?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

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

The More Things Change, The More They Say the Same: Dividing the Nation's Income The More Things Change, The More They Say the Same: Dividing the Nation's Income
Commercially made peanut butter doesn’t have any detectable levels of trans fatty acids Commercially made peanut butter doesn’t have any detectable levels of trans fatty acids
Palpating for skin elasticity Palpating for skin elasticity
Inferior aspect of brain Inferior aspect of brain
Infant mortality by income quintile, urban Canada, 1996 Infant mortality by income quintile, urban Canada, 1996
Video: Rh blood type and complications during pregnancy & Fertilization

For a complete list of videos, visit our video library