A cooperative, or "co-op" for short, is a single-owner firm

Say you had an 8 A.M. economics class, and you only come to campus to attend your economics class. The cost of coming to the economics class would then include: a. the value of the time it took to drive to campus. b. the cost of the gasoline it took to get to campus. c. the cost of insuring the car for that day

d. a. and b.

If the income elasticity for a particular good is 0.8, we would expect to see that good

a. taxed more often b. consumed in wealthier countries c. on supermarket shelves d. consumed in high-income neighborhoods e. consumed in low-income communities