Refer to Figure 4.1. The income effect of the price change in food on the quantity of food purchased is:
A) the change from F3 to F1.
B) the change from F3 to F2.
C) the change from F2 to F1.
D) the change from F1 to F2.
E) none of the above
C
Economics
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"If Michigan's electric utilities were allowed to use marginal cost pricing, it would lead to economic profits for these utilities." Is the previous statement correct or incorrect? Explain your answer
What will be an ideal response?
Economics
Charging higher prices for one category of patients in order to provide free or subsidized care to another group is called
a. price discrimination. b. cost-shifting. c. categorical costing. d. reprehensible and unethical. e. creative accounting.
Economics