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

Author Question: If a family spends a large part of its total budget on food, then its demand for food tends to be price (Read 84 times)

cnetterville

  • Hero Member
  • *****
  • Posts: 547
on: May 25, 2020

Question 1

If the income elasticity of demand for a good is 1.5, then good Z is
◦ a luxury good.
◦ an inferior good.
◦ an income-neutral good.
◦ a normal good.

Question 2

If a family spends a large part of its total budget on food, then its demand for food tends to be price
◦ inelastic.
◦ elastic.
◦ unitary elastic.
◦ No way to tell from the information given
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 cnetterville on May 25, 2020

Liamb2179

  • Sr. Member
  • ****
  • Posts: 365
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


cnetterville

  • Member
  • Posts: 547
Reply 2 on: May 25, 2020
Great answer, keep it coming :)

JaynaD87

  • Member
  • Posts: 368
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Edward Bellamy, author of the utopian novel Looking Backward (1888) Bellamy’s socialism worried many Edward Bellamy, author of the utopian novel Looking Backward (1888) Bellamy’s socialism worried many
Franz Marc, Die grossen blauen Pferde (The Large Blue Horses). Franz Marc, Die grossen blauen Pferde (The Large Blue Horses).
How to find the derivatives of trigonometric functions using the chain rule (Part 2) How to find the derivatives of trigonometric functions using the chain rule (Part 2)
How to convert between imperial and metric units (Part 1) How to convert between imperial and metric units (Part 1)
How to find the unknown angle of a triangle using the sine law (Part 1) How to find the unknown angle of a triangle using the sine law (Part 1)
How to convert verbal statements into algebraic equations (Part 2) How to convert verbal statements into algebraic equations (Part 2)
Video: Embryonic development - Week 3

For a complete list of videos, visit our video library