The income elasticity of demand for food
A) does not change when an individual's income changes.
B) increases as an individual's income increases.
C) decreases as an individual's income increases.
D) is negative.
C
Economics
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The table above gives the U.S. CPI for six years. Calculate the inflation rates between 1997 to 1998, 1998 to 1999, 1999 to 2000, 2000 to 2001, and 2001 to 2002
What will be an ideal response?
Economics
You developed a new technology for weather stripping windows. Your monopoly in this market turns out to be lucrative. Your total revenue was $75,000 and your total cost— explicit and implicit costs combined—was $25,000 . The $50,000 difference represents your
a. accounting revenue b. accounting profit c. economic profit d. economic revenue e. normal profit
Economics