The quantity demanded of good X falls by 20 and, in response, your income goes down by 10 and, the ...

Author Question: The quantity demanded of good X falls by 20 and, in response, your income goes down by 10 and, the ... (Read 284 times)

a0266361136

Hero Member
Posts: 538

on: Jul 1, 2018

The quantity demanded of good X falls by 20 and, in response, your income goes down by 10 and, the income elasticity of demand would be:
a. 2
b. 4
c. .5
d. .20

Question 2

What is the equilibrium payoff for the stores?
a. Megastore 95 and Superstore 80
b. Megastore 305 and Superstore 55
c. Megastore 65 and Superstore 285
d. Megastore 165 and Superstore 115

jamesnevil303

Sr. Member
Posts: 337

Reply #1 on: Jul 1, 2018

Answer to Question 1

a

Answer to Question 2

a

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