Shirley income elasticity of avocados

Assignment Help Business Economics
Reference no: EM133066966

Suppose that Shirley's income increases from $1200 to $1500 per week, so Shirley increases her purchases of avocados from two to three per week. Shirley's income elasticity of avocados is: (Only include numerical values in the answer field. Do not include any text or symbols, such as $, %, etc.) Answer:

Reference no: EM133066966

Questions Cloud

Current consumption of a country and future consumption : There is a trade off between the current consumption of a country and its future consumption. Discuss briefly why this is the case and In your opinion
Course material relative to application and process : How did your practicum experience change and/or reinforce your views and assumptions about the course material relative to application and process?
Why is a flu shot an example of a positive externality : Watch the following video, Externalities and Incentives: The Economics of COVID and then answer the questions below:
Prepare march journal entry to record wages expense : Prepare the necessary March 31 journal entry to record wages expense and payable. Assume that wages earned during March will be paid during April
Shirley income elasticity of avocados : Suppose that Shirley's income increases from $1200 to $1500 per week, so Shirley increases her purchases of avocados from two to three per week.
Explain a construction project : Different types of construction information in order to explain a construction project - explain a construction project
Importance of a well-developed compensation plan : Discuss the importance of a well-developed compensation plan in attracting and retaining good employees and how to keep those plans from "working too well."
Prepare the entries to record the interest payment : Prepare the entries to record the interest payment and the amortization of the discount on the bonds for Sears, on December 31, 2018
Growthpoint properties outsources database administration : Growthpoint Properties outsources Database Administration and Consulting to specialist company Ascent Technology

Reviews

Write a Review

Business Economics Questions & Answers

  How many people were employed

Suppose that some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were employed?

  Costs of individual countries before and after demand shock

Suppose that you are trying to determine whether OPEC is an effective cartel. Discuss how you would go about distinguishing between the following models if you could observe market prices, output levels for individual countries, and the short run mar..

  Rates of unemployment and inflation

Define and explain how national income (GDP and National Income) and rates of unemployment and inflation are measured.

  Federal reserves ability to increase the money supply

Would a banking system that wanted to keep some excess reserves rather than lending out all of them hinder the Federal Reserves' ability to increase the money

  Constructing the confidence interval

Step 1 of 2: Find the critical value that should be used in constructing the confidence interval. Round your answer to three decimal places.

  Large construction equipment

Oversize Transport Inc. supplies custom delivery service for very large construction equipment in the southeast region of United States.

  Should the council approve the proposal

The Townsville City Council is considering a proposal by the mayor to construct a recreational facility at a cost of $1.0 million. The facility is expected to have a useful life of 30 years during which operating costs are expected to average $100,00..

  Determine which swimming pool design has lower present cost

The City of Brandon is installing a new swimming pool in the municipal recreation centre. Two designs are under consideration, both of which are to be permanent (i.e., lasting forever). The first design is for a reinforced concrete pool that has a fi..

  Create a scatter chart to display the game

create a scatter chart to display thegame

  The marginal physical product of the last unit

Please show how to setup and solve. Assume a firm produces 500 units of a good by using two inputs, capital and labor, whose per unit prices are $10 and $4. Assume also that the marginal physical product of the last unit of capital is 30 and the marg..

  What is the opportunity cost of producing a clarinet

Suppose in Belgium the opportunity cost of producing a trombone is 8 clarinets. In Denmark the opportunity cost of producing a trombone is 6 clarinets. What is the opportunity cost of producing a clarinet for Denmark?

  A structural budget deficit is one that

A 'structural' budget deficit is one that:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd