When consumers' incomes increased 6 percent, the quantity of wine bought increased 12 percent. This result means
A) wine is a luxury.
B) the demand for wine is income inelastic.
C) wine is a necessity.
D) wine is an inferior good.
A
Economics
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Price discrimination is
A) always illegal in the United States. B) defined as charging the same price to all consumers. C) defined as charging different prices for different units. D) setting the price to minimize the quantity sold. E) Both answers A and C are correct.
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Which group of investors vote for a corporation's board of directors?
A) bond holders B) holders of preferred stock C) holders of common stock D) both holders of common and preferred stock
Economics