Refer to the information above. What is the level of consumption when the level of income is 850?
A) 375
B) 425
C) 450
D) 475
C
Economics
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If a large change in the variable measured on the x-axis is associated with a small change of the variable measured on the y-axis, the line is ________ and the slope is ________
A) downward-sloping; large B) downward-sloping; small C) upward-sloping; small D) either downward or upward-sloping; small
Economics
Based on your answer above(question 23), which of the following statements best characterizes demand for organic tomatoes.
A. Demand for organic tomatoes is inelastic. B. Demand for organic tomatoes is elastic. C. Organic tomatoes are a normal good. D. Organic tomatoes are an inferior good.
Economics