The ratio of the proportionate change in the quantity purchased of a good to the proportionate change in income:
A) price elasticity
B) income elasticity
C) cross elasticity
D) none
Correct Answer:
Verified
Q12: Revenue function TR = 22x²+14, find Marginal
Q13: The addition to total cost:
A)mc
B)ac
C)tc
D)none
Q14: The proportionate change in quantity demanded and
Q15: MRSxy is equal to:
A)mux/muy
B)mpx/mpy
C)mrts
D)none
Q16: Marginal rate of technical substitution is equal
Q18: An increase in income lead to the
Q19: The relationship between quantity demanded of a
Q20: The proportionate change in quantity demanded by
Q21: Given the utility function U = 5x²+12x,
Q22: The first order derivative of Total Utility:
A)mu
B)tu
C)au
D)none
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