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

Author Question: If a 5 percent decrease in income leads to a 15 percent decrease in the demand for a good, the ... (Read 51 times)

Anajune7

  • Hero Member
  • *****
  • Posts: 574
on: May 24, 2019
If a 5 percent decrease in income leads to a 15 percent decrease in the demand for a good, the income elasticity of demand equals
◦ -1/3 and the good is an inferior good.
◦ 1/3 and demand for the good is income elastic.
◦ 3 and the good is a normal good.
◦ -3 and the demand for the good is income inelastic.
◦ 3 and the good is an inferior good.
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 Anajune7 on May 24, 2019

chinwesucks

  • Sr. Member
  • ****
  • Posts: 341
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 56% of students answer this correctly


Anajune7

  • Hero Member
  • *****
  • Posts: 574
Reply #2 on: May 24, 2019
Excellent


chinwesucks

  • Sr. Member
  • ****
  • Posts: 341
Reply #3 on: May 24, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Cross section of heart with pacemaker leads Cross section of heart with pacemaker leads
This chart illustrates the “drip down” model of government. In this, politics is formed by the soc This chart illustrates the “drip down” model of government. In this, politics is formed by the soc
A good posture for practicing meditation is seated in a chair with the back upright and in ... A good posture for practicing meditation is seated in a chair with the back upright and in ...
Growth in the demand for oil from the developing world Growth in the demand for oil from the developing world
Determination of Income Inequality Determination of Income Inequality
Relationship between Income per Capita and Population Growth Relationship between Income per Capita and Population Growth
Video: Acid-base imbalances - compensation of respiratory acidosis and alkalosis

For a complete list of videos, visit our video library