Multiple Choice
Last year, Amy bought two lenses for her SLR camera.Her income was $30 000.This year her income is $40 000.She has bought four new lenses for her camera.All else being constant it is obvious:
A) Amy prefers to photograph with an SLR camera
B) Amy considers lenses to be a normal good
C) Amy considers SLR cameras to be an inferior good
D) Amy considers lenses to be an inferior good
Correct Answer:
Verified
Correct Answer:
Verified
Q168: The price elasticity of supply measures how
Q169: Graph 5-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8859/.jpg" alt="Graph 5-2
Q170: Suppose a producer is able to separate
Q171: Holding all other forces constant, when the
Q172: Graph 5-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8859/.jpg" alt="Graph 5-2
Q173: Table 5-1<br>Suppose a coffee shop faces
Q174: In which of the following cases will
Q175: The concept of elasticity is used to:<br>A)analyse
Q176: A perfectly inelastic demand curve will be:<br>A)vertical<br>B)horizontal<br>C)downward
Q177: Supply curves tend to be:<br>A)perfectly elastic in