What inferior goods do you buy? Would you continue to buy them if your income doubled?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (16 reviews)
Some inferior goods you might have mentioned are spaghetti rice potatoes Spam and ham...View the full answer
Answered By
SUMAN DINDA
I LIKE TO TEACH STUDENTS. SO, I START MYSELF AS A PRIVATE TUTOR. I TEACH STUDENTS OF DIFFERENT CLASSES. I HAVE ALSO DONE BACHELOR OF EDUCATION DEGREE(B.ED). DURING THIS COURSE I HAD TO TEACH IN A SCHOOL. SO I HAVE A GOOD EXPERIENCE IN TEACHING.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
What inferior goods do you purchase? Why do you buy them? Do you think you will continue to buy them when your income is higher?
-
The term price taker can apply to buyers as well as to sellers. A price-taking buyer is a buyer who cannot influence price by changing the amount she buys. What goods do you buy for which you are a...
-
Multiple Choice 1. Which of the following is a market? a. A garage sale b. A restaurant c. The New York Stock Exchange d. An eBay auction e. All of the above 2. In a competitive market, a. There are...
-
The lengths of the three sides of a triangle (in feet )are consecutive even integers. If the perimeter is 96 feet, find the value of the shortest of the three side lengths.
-
Determine the sample size needed to construct a 99% confidence interval to estimate the population proportion when p = 0.40 and the margin of error equals 5%.
-
What does Ron Popeil bring to personal selling that makes him so effective?
-
0.993 Use the Standard Normal Table or technology to find the z-score that corresponds to the cumulative area or percentile. Table 4-Standard Normal Distribution Arca z 0 z Z .09 .08 .07 .06 .05 .04...
-
A 12.75-year maturity zero-coupon bond selling at a yield to maturity of 8% (effective annual yield) has convexity of 150.3 and modified duration of 11.81 years. A 30-year maturity 6% coupon bond...
-
In the United States there will always be an inherent conflict between the criminal defendant's Sixth Amendment right to a fair trial and the media's First Amendment freedom of press rights. The...
-
A bank issues a $100,000 variable-rate 30-year mortgage with a nominal annual rate of 4.5%. If the required rate drops to 4.0% after the first six months, what is the impact on the interest income...
-
Practical Application: Youre moving into a new house one week from today. Checking the local newspaper and the online sites, you find 10 movers. Each one of them gives you a quote at least $1,000...
-
Explain how the price of a good you buy is affected by changes in the prices of (a) substitute goods; (b) complementary goods.
-
The White Swan Talc Company purchased $120,000 of mining equipment for a small talc mine. The mining engineer's report indicates the mine contains 40,000 cubic meters of commercial quality talc. The...
-
The plot below shows the training and validation r-squared scores of a ridge regression model for varying values of the rgularization hyperparameter. State the (approximate) value of a that would...
-
Solve: 4 = log(625) b =
-
Amato is preparing a resume to apply for a higher-level management position with Amato's current company. The position Amato is applying for is in a different location from Amato's current job. What...
-
b. 1. Evaluate each of the following. (2 marks - 0.5 marks each) 5 a. 2 2 35 52 d. -3 3
-
Barney Grant, the President of Parts Plus Corporation, a Michigan Corporation, has come to your office for legal advice. In your interview with Mr. Grant, he reveals the following information about...
-
In Problems 1954, solve each inequality algebraically. 6x - 5 < 6 X
-
Evenflow Power Co. is considering a new project that is a little riskier than the current operations of the company. Thus, management has decided to add an additional 1.5% to the company's overall...
-
Draw a supply curve, S 1 . Then draw a more elastic supply curve, S 2 . Quantity Price ($)
-
Draw a perfectly inelastic supply curve. Quantity Price ($)
-
Draw a perfectly elastic supply curve.. Quantity Price ($)
-
On-campus corporate presentations: Sympathy for the Devil Many students complain about the high number of corporate presentations taking place both on- and off-campus. In this question, we seek to...
-
How do organizations cultivate a culture of open innovation, leveraging crowdsourcing platforms, collaborative networks, and cross-industry partnerships to harness external knowledge and drive...
-
Braeden Sim is the accountant for Sim's Internet Service. From the following information, his task is to construct a balance sheet as of April 30, 201X, in proper form. Could you help him? (Click the...
Study smarter with the SolutionInn App