Shown in the table is the income of an individual with corresponding unit of good the...
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Shown in the table is the income of an individual with corresponding unit of good the person can purchase. Fill in the blanks and solve for the income elasticity and to indicate the classification of goods. (Answers must be in two decimal places including percentages for example: 12.00; 1.10; 0.37; -0.30; 12% should be 0.12) Income (Php) Qd of Good A 6,000 15,000 30,000 45,000 55,000 100 160 230 580 525 %A Qdx A E 1 M Q % Income B F J N R Income Elasticity C G K O S Classification of Goods D H L P T 41. What is the amount of F? 42. What is L? a. Normal Good b. Inferior Good c. Abnormal Good d. None of the Above 43. What is the amount of M? 44. What is the amount of S? 45. What is T? a. Normal Good b. Inferior Good c. Abnormal Good d. None of the Above Shown in the table is the income of an individual with corresponding unit of good the person can purchase. Fill in the blanks and solve for the income elasticity and to indicate the classification of goods. (Answers must be in two decimal places including percentages for example: 12.00; 1.10; 0.37; -0.30; 12% should be 0.12) Income (Php) Qd of Good A 6,000 15,000 30,000 45,000 55,000 100 160 230 580 525 %A Qdx A E 1 M Q % Income B F J N R Income Elasticity C G K O S Classification of Goods D H L P T 41. What is the amount of F? 42. What is L? a. Normal Good b. Inferior Good c. Abnormal Good d. None of the Above 43. What is the amount of M? 44. What is the amount of S? 45. What is T? a. Normal Good b. Inferior Good c. Abnormal Good d. None of the Above
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Related Book For
Intermediate Financial Management
ISBN: 978-1111530266
11th edition
Authors: Eugene F. Brigham, Phillip R. Daves
Posted Date:
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