Multiple Choice
Joe's utility function is given by U(x,y) = min[x,y] .If the price of x increases but Joe's income stays constant, then:
A) the total effect is zero.
B) the substitution effect exceeds the income effect.
C) the income effect is zero.
D) the substitution effect is zero.
Correct Answer:
Verified
Correct Answer:
Verified
Q59: The full price of a good includes:<br>A)the
Q60: The percentage change in consumer price index
Q61: The fewest and the most suicides happen
Q62: If the compensated demand curve for peanuts
Q63: Joanne sleeps exactly 8 hours per day,
Q65: Homesteading was a first- come, first- served
Q66: Kevin lives in Windsor and buys his
Q67: If the Paasche quantity index is less
Q68: Speculation:<br>A)is just an example of law of
Q69: A consumer's surplus is her:<br>A)benefit from paying