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University of Louisiana, Lafayette - ECON 528 Module 3 Homework Assignment $15.49   Add to cart
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University of Louisiana, Lafayette - ECON 528 Module 3 Homework Assignment
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  • ECON 528
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  • ECON 528

University of Louisiana, Lafayette - ECON 528 Module 3 Homework Assignment Started on Monday, 10 September 2018, 5:20 PM State Finished Completed on Monday, 10 September 2018, 5:31 PM Time taken 10 mins 51 secs Marks 20.00/20. 00 Grade 10.00 out of 10.00 (100%) Question 1 Correct Mark 1.00 out of ...

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Document information

  • March 8, 2022
  • 12
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • university of louisiana
  • econ 528 module 3
  • lafayette econ 528 module 3 homework assignment
  • econ 528 module 3 homework assignment
  • if an increase in income leads to a decrease in the demand for popcor

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  • ECON 528
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ECON528-850-ECON528-010-201920
Started on Monday, 10 September 2018, 5:20 PM
State Finished
Completed on Monday, 10 September 2018, 5:31 PM
Time taken 10 mins 51 secs
Marks 20.00/20.00
Grade 10.00 out of 10.00 (100%)


Question 1
Correct

Mark 1.00 out of 1.00




If an increase in income leads to a decrease in the demand for popcorn, then popcorn is

Select one:
a. a normal good.
b. an inferior good.
c. a necessity.
d. a neutral good.



Your answer is correct.
The correct answer is: an inferior good.

, Question 2
Correct

Mark 1.00 out of 1.00




Tomas increased his consumption of potato chips when the price of pistachios increased. For T
potato chips and pistachios are

Select one:
a. both inferior goods.
b. both luxury goods.
c. complements in consumption.
d. substitutes in consumption.



Your answer is correct.
The correct answer is: substitutes in consumption.



Question 3
Correct

Mark 1.00 out of 1.00




The price elasticity of demand for Stork ice cream is -4. Suppose you're told that following a p
increase, quantity demanded fell by 10 percent. What was the percentage change in price tha
about this change in quantity demanded?

Select one:
a. 0.4 percent
b. 2.5 percent
c. 25 percent
d. 40 percent



Your answer is correct.
The correct answer is: 2.5 percent

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