If product y is an inferior good, a decrease in consumer incomes will rev:
a. make buyers wan...
Business, 22.08.2019 19:20 valencial0917
If product y is an inferior good, a decrease in consumer incomes will rev:
a. make buyers want to buy less of product y.
b. shift the demand curve for product y to the right.
c. shift the demand curve for product y to the left.
d. not affect the sales of product y.
Answers: 2
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Business, 22.06.2019 19:00
Andy purchases only two goods, apples (a) and kumquats (k). he has an income of $125 and can buy apples at $5 per pound and kumquats at $5 per pound. his utility function is u(a, k) = 6a + 2k. what is his marginal utility for apples and his marginal utility for kumquats? andy's marginal utility for apples (mu subscript a) is mu subscript aequals 6 and his marginal utility for kumquats (mu subscript k) is
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