--%>
Assignment Help - homework help

Determine income elasticity of demand

This given figure as in below demonstrates how the consumption of goods A, B, C and D differs as a family’s income changes. There income elasticity of demand equivalents 1 for: (w) good A. (x) good B  (y) good C. (z) good D.

2414_Income Elasticity of Demand.png

Please choose the right answer from above...I want your suggestion for the same.

   Related Questions in Microeconomics

  • Q : Relation of transaction costs with

    Transaction costs are costs mainly related with the: (w) transportation and gathering information about goods or resources. (x) direct production costs for goods. (y) inputs quite than outputs. (z) supply prices rather than demand prices.

  • Q : Relative price of the good The demand

    The demand curve depicts a negative relationship among price and quantity demanded since the quantity demanded rises if there is a decline in the: (1) Size of the family. (2) Incomes of the consumer. (3) Relative price of good. (4) Price of the substitute good. <

    		•
  • Q : Existence of Diseconomies I have a

    I have a problem in economics on Existence of Diseconomies. Please help me in the following question. Diseconomies of the scale exist if: (1) Price reduces as more units are sold. (2) Total costs reduction as output raise. (3) Average costs raise as output rises. (4)

    		•
  • Q : Capital intensive forms of production

    Can someone please help me in finding out the accurate answer from the following question. Associative to firms that do not practice the wage discrimination, firms which wage-discriminate tend to: (1) Forego highest gains by hiring the less productive workers. (2) Dis

    		•
  • Q : Reallocation of resources-Government

    Describe the Reallocation of resources objective of the government budget.

    		•
  • Q : Determine constant elasticities of

    Which of the given demand curves have constant elasticities of demand as follows: (w) A vertical demand curve. (x) A horizontal demand curve. (y) A rectangular hyperbola. (z) All of the above. Hello guys I want you

    		•
  • Q : Craft Unions problems I have a problem

    I have a problem in economics on Craft Unions problems. Please help me in the given question. The craft unions arrange all the workers: (i) In a given industry or firm, despite of skill or craft. (ii) In a specified craft, even when they work for dist

    		•
  • Q : Automation and Wage Rates When physical

    When physical capital becomes cheaper, in that case: (w) some workers may be displaced but worker productivity usually rises. (x) automation will make jobs for more workers. (y) workers will supply more labor services. (z) labor supply curves will move in backward ben

    		•
  • Q : Compute rate of return on interest rate

    When the rate of return you compute onto an asset exceeds the interest rate: (w) its present value exceeds its price. (x) the market is within long term equilibrium. (y) you should avoid buying the asset. (z) the price must fall quick

    		•
  • Q : Farm employment Over the past several

    Over the past several decades, farm employment has: A) grown absolutely, but declined as a percentage of total employment. B) declined both absolutely and as a percentage of total employment. C) increased both absolutely and as a percentage of total employment. D) dec

    		•