This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Your indifference curves for good X (horizontal axis) and good Y (vertical axis) are vertical lines ... (Read 412 times)

NClaborn

  • Hero Member
  • *****
  • Posts: 560
on: Jul 1, 2018
Your indifference curves for good X (horizontal axis) and good Y (vertical axis) are vertical lines because you do not gain any satisfaction from consumption of Y.
 
  As the price of X declines, the change in consumption of X is entirely composed of the: A) income effect.
  B) substitution effect.
  C) Giffen effect.
  D) independent good effect.

Question 2

A demand curve of the form: Q = a - bP, where a and b are positive real numbers,:
 
  A) is an upward sloping straight line.
  B) has a constant price elasticity of demand.
  C) is a downward sloping straight line.
  D) is a parabolic curve.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

flannelavenger

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


NClaborn

  • Member
  • Posts: 560
Reply 2 on: Jul 1, 2018
Gracias!

lcapri7

  • Member
  • Posts: 350
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

good to eat good to eat
Are good deeds selfish? Are good deeds selfish?
A good disinfecting solution you can make yourself consists of 1 part bleach to 10 parts water. A good disinfecting solution you can make yourself consists of 1 part bleach to 10 parts water.
Sen lines in traditional Thai massage. Sen lines in traditional Thai massage.
A horizontal, 2.00 m long, 3.00 kg uniform beam that lies along the east-west di A horizontal, 2.00 m long, 3.00 kg uniform beam that lies along the east-west di
QTL analysis in introgression lines QTL analysis in introgression lines
Video: Second Messengers in the Inositol-lipid Signaling Pathway

For a complete list of videos, visit our video library