« previous next »

Author Question: Jerry spends his entire income on two goods, Bran and Tea. Every month he spends half of his income ... (Read 307 times)

kellyjaisingh

  • Hero Member
  • *****
  • Posts: 540
on: Jul 1, 2018
Jerry spends his entire income on two goods, Bran and Tea. Every month he spends half of his income on each of these goods. Jerry's income elasticity of demand for Bran is .75. What is the income elasticity of demand for Tea?
 
  A) 1.25
  B) .75
  C) 1
  D) Unknown with the information provided

Question 2

Which of the following will not cause a short-run shift in the supply curve?
 
  A) a change in the number of sellers
  B) a change in the cost of resources
  C) a change in the price of the product
  D) a change in future expectations


wshriver

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

kellyjaisingh

  • Hero Member
  • *****
  • Posts: 540
Reply #2 on: Jul 1, 2018
Thank you


wshriver

  • Sr. Member
  • ****
  • Posts: 318
Reply #3 on: Jul 1, 2018
No problemo


« previous next »
 

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

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

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Ten Leading Causes of Death in Low-Income Countries, 2008 Ten Leading Causes of Death in Low-Income Countries, 2008
Apply lubricant to the entire right limb using basic sliding effleurage. Apply moderate pressure ... Apply lubricant to the entire right limb using basic sliding effleurage. Apply moderate pressure ...
Apply long effleurage stroke to entire arm-hand to shoulder. Brush off from shoulder to hand to ... Apply long effleurage stroke to entire arm-hand to shoulder. Brush off from shoulder to hand to ...
Shippers Declaration for Dangerous Goods Shippers Declaration for Dangerous Goods
Relationship between Income Inequality and the Desired Tax Rate Relationship between Income Inequality and the Desired Tax Rate
Intergenerational Income Mobility in the United States Intergenerational Income Mobility in the United States
Video: Inflammation

For a complete list of videos, visit our video library