Answer: Income elasticity of demand refers to the sensitivity of the quantity demanded for a certain good to a change in real income of consumers who buy this good, keeping all other things constant.
Aquata Income elasticity of demand for dingle hoppers will be higher.
Explanation: Types of Income Elasticity of Demand
High: A rise in income comes with bigger increases in the quantity demanded.
Unitary: The rise in income is proportionate to the increase in the quantity demanded.
Low: A jump in income is less than proportionate than the increase in the quantity demanded.
Zero: The quantity bought/demanded is the same even if income changes
Negative: An increase in income comes with a decrease in the quantity demanded.
Answer:
?? what do u mean do u need help with something!
People will buy at places that are cheap and sell at more expensive prices because:
- The transactions costs would be too high.
- There's little resale market for used Big Macs.
- They would be expensive to transport.
- They're perishable.
<h3>What is transactions cost?</h3>
Transactions cost simply mean the expenses that are incurred when one buys or sells a particular product.
In this case, the above options are the reasons why people are unlikely to buy Big Macs in the places where they are relatively cheap according to purchasing power parity.
Learn more about transactions cost on:
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A child who is at the age of between 8 and 12 are suggested to be in a booster seat to secure and protect them from any accidents that could occur. This will secure them to their seats and it suitable for their height and age. That is why the 8 year old who is at least 4 feet tall is expected to seat on a booster seat for his security and safety.
Brinkmanship is the practice of pushing something to the limits before stopping. One example in the United States is the recent government shutdown, where one side threatens shutting down the government if they don't get the policy they want and the other side threatens to block the policy.
Crossing these lines is dangerous because it can cause harm to the economy or to people. A potential benefit is getting what you want, but doing so through threats is not considered a good method.