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SECTION A Answer ALL the questions in this section. QUESTION 1 Table 1.1 below shows the income elasticity of demand and
Posted: Wed Jul 06, 2022 6:29 pm
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- Section A Answer All The Questions In This Section Question 1 Table 1 1 Below Shows The Income Elasticity Of Demand And 1 (28.53 KiB) Viewed 15 times
SECTION A Answer ALL the
questions in this section.
QUESTION 1 Table 1.1 below shows the income elasticity of demand and cross elasticity of demand. Given that pr good with no close substitutes. It is a compliment to Z. Which best describes ? Table 1.1 A B D 20 Income elasticity of demand D
QUESTION 3 negative positive
QUESTION 2 The diagram below illustrates a consumer's demand curve for snickers negative positive positive Cross elasticity of demand with products negative [100 MARKS] negative positive yes 8 (4 Marks) If the price of snickers falls from $30 to $20, but the consumer is prohibited from buying more than 5 pairs of the by how much will consumer surplus increase? A. $100. B. $75. C. $50 D. $25.