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Author Question: As the price of a Giffen good falls, the consumer will A) purchase more units. B) purchase fewer ... (Read 121 times)

clippers!

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on: Jul 1, 2018
As the price of a Giffen good falls, the consumer will
 
  A) purchase more units.
  B) purchase fewer units.
  C) not change the amount purchased.
  D) There is not enough information to answer this question.

Question 2

Three individuals have 1000 and identical preferences for gum, g, and cigarettes, s, as measured by the utility function U(g,s) = 10g0.9s0.1. The price of gum is 9 and the price of cigarettes is 12. What is the market surplus/shortage at a price of 12 when the supply of cigarettes is 5?
 
  A) There will be a shortage of 3 cigarettes.
  B) There will be a surplus of 3 cigarettes.
  C) There will be a shortage of 2/3 cigarettes.
  D) There will be a surplus of 2/3 cigarettes.
Microeconomics ¦ Perloff ¦ 8th Edition
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medine

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Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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clippers!

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

mcarey591

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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