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- You have data on Meena's quantity demanded for craft beer and theirincome. According to this data when Meena's income falls by 7% theassociated change in their quantity demanded for beer is 11%. You don'tknow if it is an increase or decrease in quantity demanded. From pastresearch you know that craft beer is a normal good for Meena. Use thisinformation to calculate Meena's income elasticity of demand.How does DMCA relate to Napster? https://www.youtube.com/watch?v=VrLSWqaFTKEeconomic factors thst affect healthy eating
- Jien is just bored all the time; no amount of success makes him happy, it seems. Below is a list of his income for the last several years and the utility he experienced per dollar of income: Year Yearly Income Utility per Dollar Earned 2017 $60,000 2 utils 2018 $70,000 1.8 2019 $100,000 1.5 2020 $120,000 1 2021 $145,000 0.40 From the above, we can say that Jien most likely is different from most people economists study in terms of risk attitudes is "risk loving" will not take a fair bet has a utility of wealth curve that is a straight lineWhy tY not substituted for T?You have an 8:30 class this morning but you are feeling extremely tired. How do you decide whether toget some extra sleep or go to class?
- explain how a decrease in the real income of consumers would affect the market for luxury wallets sold by Saks Fifth Avenue.What is a extrapolationThere are several factors that have influenced the importance of purchasing andsupply”. Justify this statement by discussing information technology as a major factor.Provide an example of your choice to explain the factor.