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Author Question: Joe receives a 20 percent increase in his income from his part time job and as a consequence ... (Read 65 times)

fnuegbu

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on: May 24, 2019
Joe receives a 20 percent increase in his income from his part time job and as a consequence decreases his consumption of Ramen noodles by 10 percent. Hence to Joe, Ramen noodles are
◦ a normal good with a price elasticity of demand of 0.5.
◦ a substitute good with a cross elasticity of 0.5.
◦ a good with a price elasticity of supply of -0.5.
◦ an inferior good with an income elasticity of -0.5.
◦ an inferior good with an income elasticity of -2.0.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by fnuegbu on May 24, 2019

dyrone

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Reply #1 on: May 24, 2019
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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fnuegbu

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Reply 2 on: May 24, 2019
Excellent

Bigfoot1984

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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