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

Author Question: If you spend a large portion of your income on a good, (Read 46 times)

Hungry!

  • Hero Member
  • *****
  • Posts: 1,071
on: May 24, 2019
If you spend a large portion of your income on a good,
◦ supply of that good would be price elastic.
◦ demand for that good is more elastic than if you spent a smaller portion of your income on the good.
◦ supply of that good is price inelastic.
◦ demand for that good is less elastic than if you spent a smaller portion of your income on the good.
◦ the good must be able to be produced at a constant (or gently rising) opportunity cost.
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 Hungry! on May 24, 2019

stanleka1

  • Sr. Member
  • ****
  • Posts: 325
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


Hungry!

  • Hero Member
  • *****
  • Posts: 1,071
Reply #2 on: May 24, 2019
Excellent


stanleka1

  • Sr. Member
  • ****
  • Posts: 325
Reply #3 on: May 24, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

What makes tea so good What makes tea so good
Plasma protein binding and drug availability: (a) drug exists in a free state or bound to plasma pro Plasma protein binding and drug availability: (a) drug exists in a free state or bound to plasma pro
Oil Refineries Are Large and Complex Facilities Oil Refineries Are Large and Complex Facilities
A good Mnemonic to know Mg K Ca Na A good Mnemonic to know Mg K Ca Na
Rice noodles are a good gluten-free substitute for pasta Rice noodles are a good gluten-free substitute for pasta
Prevalence of good health in Canadians aged 65 years and older Prevalence of good health in Canadians aged 65 years and older
Video: Introduction to Genetics

For a complete list of videos, visit our video library