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Author Question: An increase in income causes, the price for ipads _____________ and the quantity demanded for ipads ... (Read 244 times)

imowrer

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  • Posts: 514
on: Jul 1, 2018
An increase in income causes, the price for ipads _____________ and the quantity demanded for ipads ____________.
 a. Increase; increase
 b. Increase; decrease
  c. Decrease; increase
  d. Decrease, decrease

Question 2

Half of all your potential customers would pay 10 for your product but the other half would only pay 8 . You cannot tell them apart. Your marginal costs are 4 . If you set the price at 10, the expected profit is:
 a. 3
  b. 4
  c. 5
  d. 6


Sierray

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  • Posts: 343
Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

a


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