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

Author Question: Consider the two following statements: I. x is an inferior good. II. x exhibits Giffen's Paradox. ... (Read 71 times)

rlane42

  • Hero Member
  • *****
  • Posts: 594
on: Jul 1, 2018
Consider the two following statements: I. x is an inferior good. II. x exhibits Giffen's Paradox. Which of the following is true?
 a. I implies II, but II does not necessarily imply I.
  b. II implies I, but I does not necessarily imply II.
  c. I and II are statements of the same phenomenon.

Question 2

Unique Creations has a monopoly position in magnometers. If the marginal cost for a magnometer is 50 and the price elasticity for magnometers is -4, what is the optimal monopoly price?
 a. 37.50
  b. 41.25
  c. 66.67
  d. 75.00
  e. 82.50


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

iceage

  • Guest
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

c


rlane42

  • Member
  • Posts: 594
Reply 2 on: Jul 1, 2018
Excellent

lcapri7

  • Member
  • Posts: 350
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The average adult has about 21 square feet of skin.

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?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

onions taste good onions taste good
A typical good oxygen sensor waveform as displayed on a digital storage oscilloscope. Look for ... A typical good oxygen sensor waveform as displayed on a digital storage oscilloscope. Look for ...
Determining a good table height. Stand facing the table with your hands at your sides. Adjust the ... Determining a good table height. Stand facing the table with your hands at your sides. Adjust the ...
Kneeling on one knee to keep good alignment when massaging the arms and hands. Kneeling on one knee to keep good alignment when massaging the arms and hands.
Oatmeal and other whole grain cereals are good sources of carbohydrates to start your morning off Oatmeal and other whole grain cereals are good sources of carbohydrates to start your morning off
Video: Cardiac Cycle (Part 4 of 4)

For a complete list of videos, visit our video library