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

Author Question: If the income elasticity of demand for a good is 1.25, a 10% increase in income results in (Read 104 times)

Dannyrod2

  • Full Member
  • ***
  • Posts: 160
on: Oct 12, 2022
If the income elasticity of demand for a good is 1.25, a 10% increase in income results in
◦ a decrease in quantity demanded.
◦ a 12.5% decrease in the quantity demanded.
◦ a 125% increase in the quantity demanded.
◦ a 12.5% increase in the quantity demanded.
◦ There is not enough information to answer this question.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Dannyrod2 on Oct 12, 2022

senorfranco

  • Full Member
  • ***
  • Posts: 164
Reply #1 on: Oct 12, 2022
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


Dannyrod2

  • Member
  • Posts: 160
Reply 2 on: Oct 12, 2022
:D TYSM

smrtceo

  • Member
  • Posts: 344
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Analogy for How Magnetic Field Strengths Increase Analogy for How Magnetic Field Strengths Increase
Regular staff meetings increase the efficiency of the medical office staff. Regular staff meetings increase the efficiency of the medical office staff.
Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
National Results of the Scholastic Assessment Test (SAT) National Results of the Scholastic Assessment Test (SAT)
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
The results of reciprocal crosses between streptomycin-resistant and streptomycin-sensitive The results of reciprocal crosses between streptomycin-resistant and streptomycin-sensitive
Video: Photosynthesis overview Animation

For a complete list of videos, visit our video library