Suppose a consumer's income increases from $30,000 to $36,000. As a result, the consumer increases her purchases of compact disks (CDs) from 25 CDs to 30 CDs. What is the consumer's income elasticity of demand for CDs?

The number of people receiving Medicare is expected to grow to 74 million by the year

A) 2105. B) 2020. C) 2025. D) 2075.

If a firm is minimizing the cost of producing its chosen level of output, the marginal product of the last dollar spent on each input should be equal

Indicate whether the statement is true or false