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 288 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

Need homework help now?

Ask unlimited questions for free

Ask a Question

« previous next »

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.