Business, 13.03.2020 22:37, TVASALLO31
For each scenario, calculate the income elasticity of demand, determine whether the good is inferior or normal, and classify the goods income elasticity. When calculating the income elasticity of demand, use the midpoint formula. Round your answers to the nearest hundredth. Sylvia's annual salary increases from $100,000 to $109,500, and she decides to increase the number of vacations she takes per year from three to four. Calculate her income elasticity of demand for vacations.
Answers: 3
Business, 22.06.2019 13:40, deezzzy
After much consideration, you have chosen cancun over ft. lauderdale as your spring break destination this year. however, spring break is still months away, and you may reverse this decision. which of the following events would prompt you to reverse this decision? a. the marginal cost of going to cancun decreases. b. the marginal cost of going to ft. lauderdale decreases. c. the marginal benefit of going to cancun increases. d. the marginal benefit of going to ft. lauderdale decreases.
Answers: 2
Business, 22.06.2019 15:00, menendezliliana5
(a) what do you think will happen if the price of non-gm crops continues to rise? why? (b) what will happen if the price of non-gm food drops? why?
Answers: 2
For each scenario, calculate the income elasticity of demand, determine whether the good is inferior...
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