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

Author Question: Joe receives a 20 percent increase in his income from his part time job and as a consequence ... (Read 86 times)

fnuegbu

  • Hero Member
  • *****
  • Posts: 539
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by fnuegbu on May 24, 2019

dyrone

  • Sr. Member
  • ****
  • Posts: 322
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.
Answer Preview
Only 30% of students answer this correctly


fnuegbu

  • Member
  • Posts: 539
Reply 2 on: May 24, 2019
Wow, this really help

shailee

  • Member
  • Posts: 392
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Part A - Overview of the vertebrate nervous system Part A - Overview of the vertebrate nervous system
Drug development time line. Drug development time line.
How to find the domain of a natural logarithmic functions (Part 2) How to find the domain of a natural logarithmic functions (Part 2)
Greenhouse gases absorb part of the outgoing IR radiation Greenhouse gases absorb part of the outgoing IR radiation
Finding the angle from a ratio (Part 2) Finding the angle from a ratio (Part 2)
Time-of-entry mapping Time-of-entry mapping
Video: Digestive chemicals - water, gastric acid, bile & bicarbonate

For a complete list of videos, visit our video library