This topic contains a solution. Click here to go to the answer

Author Question: Your indifference curves for good X (horizontal axis) and good Y (vertical axis) are vertical lines ... (Read 391 times)

NClaborn

  • Hero Member
  • *****
  • Posts: 560
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
Answer to Question 1

A

Answer to Question 2

C




NClaborn

  • Member
  • Posts: 560
Reply 2 on: Jul 1, 2018
Wow, this really help


marict

  • Member
  • Posts: 304
Reply 3 on: Yesterday
Gracias!

 

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

For a complete list of videos, visit our video library