The diagram below shows two production possibilities boundaries for Country X. If Country X, constrained by the producti
Posted: Fri Jul 01, 2022 8:12 am
The diagram below shows two production possibilitiesboundaries for Country X.
If Country X, constrained by the production possibilitiesboundary PPB2, is producing the combination of goodsindicated at point E, it can produce more consumer goods by movingto one of the points
Question 3 options:
B, D
A, B, C
B
A
2.
When income increases from $20,000 to $30,000 the quantity ofinter-city bus trips taken per year decreases from 10 to 8.Hence
Question 8 options:
the income elasticity of demand for inter-city bus trips is-1.8.
inter-city bus trips are a normal good.
inter-city bus trips are a luxury good.
the income elasticity of demand for inter-city bus trips is-0.56.
If Country X, constrained by the production possibilitiesboundary PPB2, is producing the combination of goodsindicated at point E, it can produce more consumer goods by movingto one of the points
Question 3 options:
B, D
A, B, C
B
A
2.
When income increases from $20,000 to $30,000 the quantity ofinter-city bus trips taken per year decreases from 10 to 8.Hence
Question 8 options:
the income elasticity of demand for inter-city bus trips is-1.8.
inter-city bus trips are a normal good.
inter-city bus trips are a luxury good.
the income elasticity of demand for inter-city bus trips is-0.56.