When income increases from $20,000 to $30,000 the number of home delivered pizzas per year increases from 22 to 40. The income elasticity of demand for home delivered pizza equals
A) 1.45.
B) 0.69.
C) 0.58.
D) 0.40.
E) 2.86.
A
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How can we determine separately the cost of producing ham hocks from the cost of producing bacon?
A) By separately estimating the labor time it takes to butcher the hocks and the bacon B) By separately calculating the weight of the hocks and the bacon as percentages of total useable meat C) By consulting the average industry costs of ham hocks and bacon D) There is no way to determine the specific costs of joint products.
Other things being equal, an increase in the default risk of corporate bonds shifts the demand curve for corporate bonds to the ________ and the demand curve for Treasury bonds to the ________
A) right; right B) right; left C) left; right D) left; left
Which of the following is not a common resource?
a. elephants in the wild b. a narrow trail in a park c. a neighborhood garden d. Neither a nor b is a common resource.
A movement along a demand curve is called a change in:
A. income. B. quantity demanded. C. demand. D. tastes.