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

Author Question: If your income increased by 10% and the quantity of pizza you demanded increased by 5%, your income ... (Read 145 times)

xclash

  • Hero Member
  • *****
  • Posts: 681
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by xclash on May 25, 2020

cam1229

  • Sr. Member
  • ****
  • Posts: 329
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.
Answer Preview
Only 56% of students answer this correctly


xclash

  • Member
  • Posts: 681
Reply 2 on: May 25, 2020
Excellent

robbielu01

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
Saving Rates by Income Quintile, 2003 Saving Rates by Income Quintile, 2003
Relationship between Latitude and Income per Capita Relationship between Latitude and Income per Capita
Variable and absorption costing, explaining operating-income differences. Variable and absorption costing, explaining operating-income differences.
Lone-parent household income and the degree of vulnerability Lone-parent household income and the degree of vulnerability
Video: Stages of Mitosis - Prophase, Prometaphase, Metaphase, Anaphase & Telophase

For a complete list of videos, visit our video library