Homework answers / question archive / pts Mark each of these statements about normal goods as true or false: Normal goods always have a price inelastic demand curve (Select] Normal goods always have a positive income elasticity of demand [Select] Normal goods always have a negative income elasticity of demand (Select] [ Select] Normal goods always have a price elastic demand curve

pts Mark each of these statements about normal goods as true or false: Normal goods always have a price inelastic demand curve (Select] Normal goods always have a positive income elasticity of demand [Select] Normal goods always have a negative income elasticity of demand (Select] [ Select] Normal goods always have a price elastic demand curve

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pts Mark each of these statements about normal goods as true or false: Normal goods always have a price inelastic demand curve (Select] Normal goods always have a positive income elasticity of demand [Select] Normal goods always have a negative income elasticity of demand (Select] [ Select] Normal goods always have a price elastic demand curve.
Suppose that a consumer's preferences follow the "basic properties of consumer's preferences" and that she has "nice indifference curves" (meaning: "convex indifference curves"). Which of the following sentences are True/False? For each statement, consider that e > 0: The consumer is indifferent between (100+ €, 25) and (100, 25) (Select] The consumer strictly prefers (100+ €, 25) to (100, 25) [Select] The consumer is indifferent between (100,25+ e) and (100+ €, 25) [ Select) The consumer is indifferent between (100+ €, 25) and (25, 100+ €) [Select] The consumer weakly prefers (100+ €, 25) to (100, 25) (Select) If the consumer is indifferent between (100,25) and (25, 100) then the bundle (85, 45) is weakly preferred to (100, 25) and (25, 100) (Select]
Question 3 0.1 pts Andrew's preferences are such that he is always indierent between watching two movies (X) or seeing one football game. Which of the following sentences are True/False? Considering that Andrew is consuming (optimally) some positive amount of good X and some positive amount of good Y, if the price of good X relative to good Y triples, Andrew would optimally decide to not consume good Y Select ] If Andrew's income is $90 and prices are PX = $10 and PY = $18, Andrew's demand for movies is V equal to 5. [Select] If Andrew's income is now $180 and prices are PX = $10 and Py = $18. Andrew's demand for football games is equal to 10. (Select] If Andrew is consuming (optimally) some positive amount of good X and some positive amount of good Y, the price of Y is half the price of good X. (Select] If Andrew's income is $90 and prices are PX - 8$ and PY= $18. Andrew's demand for movies is equal to 12. Select]