Author Question: How does an increase in income affect the market of iPads (normal good)? a. The demand curve for ... (Read 172 times)

SAVANNAHHOOPER23 · **on:** Jul 1, 2018

How does an increase in income affect the market of iPads (normal good)?
a. The demand curve for iPads to shift to the right
b. The demand curve for iPads to shift to the left
c. The supply curve for iPads to shift to the right
d. The supply curve for iPads to shift to the left

Question 2

Demand functions in the multiplicative form are most common for all of the following reasons except:
a. elasticities are constant over a range of data
b. ease of estimation of elasticities
c. exponents of parameters are the elasticities of those variables
d. marginal impact of a unit change in an individual variable is constant
e. c and d