Answer:
Step-by-step explanation:
income elasticity of demand for the good X = % change in quantity demanded / % change in income of consumer = - 15 / 2 = - 7.50 negative since it is a decrease in demand.
and the good X is an inferior good since increase income brings about a decrease in quantity demanded of the goods compared to normal good where a decrease in income brings about decrease in quantity demanded and an increase in income brings about increase in quantity demanded.
Answer:
Step-by-step explanation:
0.000108990512 m-1
Answer:
m=3, y-int=-1
Step-by-step explanation:
y-3x=-1, reorganize this into y=mx+b by moving -3x to the right side.
y=3x-1, remember that in y=mx+b, m=slope, which is 3 as you can see easily.
The y-intercept is when x=0. So plug this into y=3(0)-1, which is just y=-1.
Answer:
42km
Step-by-step explanation: