QUESTION 11 While unemplayed, Sally ate only rice to save money, buying 2 sacks of rice per month. After she got a new job and has a higher income, she bought one sack of rice per month. Sally must...


QUESTION 11<br>While unemplayed, Sally ate only rice to save money, buying 2 sacks of rice per month. After she got a new job and has a higher income, she bought one sack of<br>rice per month. Sally must consider rice to be atn).<br>O Luxury good; greater than 1<br>O Inferior good; negative<br>Normal good; positive<br>meaning her income elasticity must be<br>None of the other choices are correct<br>QUESTION 12<br>Returns to scale cannot be a short run concept because<br>O t involves holding one input fixed and increasing the other<br>O It involves changing both inputs at the same time to see how production changes<br>O The change in production always eventually becomes negative as we add more inputs<br>O None of the above, it is a short run concept<br>0000<br>

Extracted text: QUESTION 11 While unemplayed, Sally ate only rice to save money, buying 2 sacks of rice per month. After she got a new job and has a higher income, she bought one sack of rice per month. Sally must consider rice to be atn). O Luxury good; greater than 1 O Inferior good; negative Normal good; positive meaning her income elasticity must be None of the other choices are correct QUESTION 12 Returns to scale cannot be a short run concept because O t involves holding one input fixed and increasing the other O It involves changing both inputs at the same time to see how production changes O The change in production always eventually becomes negative as we add more inputs O None of the above, it is a short run concept 0000

Jun 06, 2022
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