The uploaded question does not contain the options. The full question with the options is shown below.
Joe receives a 20 percent increase in his income from his part time job and as a consequence decreases his consumption of Ramen noodles by 10 percent. Hence to Joe, Ramen noodles are
A) a normal good with a price elasticity of demand of 0.5.
B) a substitute good with a cross elasticity of 0.5.
C) a good with a price elasticity of supply of -0.5.
D) an inferior good with an income elasticity of -0.5.
E) an inferior good with an income elasticity of -2.0.
Answer:
D) An inferior good with an income elasticity of -0.5
Step-by-step explanation:
Income elasticity is calculated by finding the negative 50% change in demand.
Income elasticity = -0.5
The reduction in demand for Ramen noodles due to the increase in income indicates that Ramen noodle is an inferior good that was only purchased because of Joe's meager income.
Answer:
1:25
Step-by-step explanation:
if you divide 575 by 23 you get 25, therefore there are 25 students per 1 teacher
Answer:
32 degrees
Explalnation:
Both of the angles are acute angles, so the answer should be 32 degrees.
Answer:
He jogged a total of 3.2 miles on Thursday.
Step-by-step explanation:
Add the miles from each day together.
3.5+ 3.8+ 4.5=11.8
Subtract 11.8 from 15
15-11.8= 3.2
Therefore the answer is 3.2. Hopefully this was helpful!:)