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Author Question: If your income increased by 10% and the quantity of pizza you demanded increased by 5%, your income ... (Read 169 times)

xclash

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on: May 25, 2020

Question 1

If the income elasticity of demand for bread is 0.2. A 5% increase in income will cause
◦ a 25% decrease in the demand for bread.
◦ a 25% increase in the demand for bread.
◦ a 10% increase in the demand for bread.
◦ a 1% increase in the demand for bread.

Question 2

If your income increased by 10% and the quantity of pizza you demanded increased by 5%, your income elasticity of demand for pizza is
◦ 2.
◦ 10%.
◦ 0.5.
◦ -2.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by xclash on May 25, 2020

cam1229

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Reply #1 on: May 25, 2020
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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xclash

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Reply 2 on: May 25, 2020
YES! Correct, THANKS for helping me on my review

amit

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

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