Multiple Choice
You and your college roommate eat three packages of Ramen noodles each week. After graduation last month, both of you were hired at several times your college income. You still enjoy Ramen noodles very much and buy even more, but your roommate plans to buy fewer Ramen noodles in favor of foods she prefers more. When looking at income elasticity of demand for Ramen noodles,
A) yours would be negative and your roommate's would be positive.
B) yours would be positive and your roommate's would be negative.
C) yours would be zero and your roommate's would approach infinity.
D) yours would approach infinity and your roommate's would be zero.
Correct Answer:

Verified
Correct Answer:
Verified
Q23: For a particular good, a 3 percent
Q24: If the elasticity of demand for cigarettes
Q25: Figure 7-17 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7348/.jpg" alt="Figure 7-17
Q26: When a good is more narrowly defined
Q27: Which of the following would help control
Q29: After downing three glasses of lemonade on
Q30: If the price of tickets to Disney
Q31: If the demand for a good is
Q32: Which of the following is a predictable
Q33: Nicole's income elasticity of demand for hats