A 10 percent increase in income leads to a 15% decrease in the quantity of macaroni and cheese demanded but no change in the price of macaroni and cheese. From this information, we can assume:A. macaroni is a normal good and price elasticity of demand is greater than 1.B. macaroni is an inferior good and price elasticity of supply is equal to zero. C. macaroni is an inferior good and price elasticity of supply is infinite. D. macaroni is an inferior good and price elasticity of demand is less than 1
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Business, 21.06.2019 17:00
Which basic economic questions deals with the issue of how the incomeof people in various occupations is determined
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Richardson hired j.c. flood company, a plumbing contractor, to correct a stoppage in the sewer line of her house. the plumbing company's 'snake' device, used to clear the line leading to the main sewer, became caught in the underground line. to release it, the company excavated a portion of the sewer line in richardson's backyard. in the process, the company discovered numerous leaks in a rusty, defective water pipe that ran parallel with the sewer line. to meet public regulations, the water pipe, of a type no longer approved for such service, had to be replaced either then or later, when the yard would have to be excavated again. the plumbing company proceeded to repair the water pipe. though richardson inspected the company's work daily and did not express any objection to the extra work involved in replacing the water pipe, she refused to pay any part of the total bill after the company completed the entire operation. j.c. flood company then sued richardson for the costs of labor and material it had furnished. (c) for what, if anything, should richardson be liable? explain."
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Business, 22.06.2019 11:30
17. chef a says that garnish should be added to a soup right before serving. chef b says that garnish should be cooked with the other ingredients in a soup. which chef is correct? a. chef a is correct. b. both chefs are correct. c. chef b is correct. d. neither chef is correct. student c incorrect which is correct answer?
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Business, 22.06.2019 20:00
Later movers do not face: entrenched competitors. reduced uncertainty over technologies. high growth markets. lower market uncertainty.
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A 10 percent increase in income leads to a 15% decrease in the quantity of macaroni and cheese deman...
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