Income elasticity and population growth

For most families inside the United States, there the income elasticity of demand appears to be lowest, upon average, while looking the demand for: (1) better government. (2) environmental quality. (3) education. (4) children. (5) vacations in other countries.

I need a good answer on the topic of Economic problems. Please give me your suggestion for the same by using above options.

View Complete Question

Related Questions in Microeconomics

Q : Nonrivalry and nonexcludability Select

Select the right ans wer of the question.Nonrivalry and nonexcludability are the main characteristics of: A) capital goods. B) private goods. C) public goods. D) consumption goods.

Q : Illustrations of individuals engaged in

Illustrations of individuals engaged in the productive activities would not comprise a: (1) Speculator who purchases wheat at harvest time and vends it at a higher price afterward. (2) Trucker who hauls the grain from North Dakota to the flour mill in

Q : Rule of thumb for office rent Is there

Is there any rule of thumb for office rent or on lease per gross income? If yes, then explain?

Q : Multimarket Monopoly A monopolist

A monopolist operates in two separated markets. The inverse demand functions ofthose markets are given by and where arethe quantities supplied to these markets, respectively. The total cost function facedby the monopolist is &nbs

Q : Quantity sold of total revenue of pure

Total revenue of a pure competitor is its quantity sold that is multiplied by its: (w) profit per unit. (x) price per unit. (y) average variable cost. (z) overhead cost per unit. Can someone explain/help me with be

Q : How is a shift in demand reflected in a

How is a shift in demand reflected in a demand equation? How is a shift in supply reflected in a supply equation? How is a movement along a demand (supply) curve reflected in a demand (supply) equation?

Q : Problem onto public sector The word “

The word “public sector” signifies to: (1) Stockholders and households. (2) Investors and Consumers. (3) Households and investors. (4) Democratic voting systems. (5) All actions of government. Hey frien

Q : Competitive resource markets and low

When resource markets are competitive and transaction costs are low, in that case landowners: (1) pass forward completely any land tax. (2) can drive up the rental rate of land by changing its supply. (3) bear the full burden of any t

Q : Wage Differentials problem Can someone

Can someone please help me in finding out the accurate answer from the following question. Significant influences on the union non-union wage differentials comprise the: (1) Proportion of the industry which is unionized and the frequency of strikes. (2) Frequency of s

Q : Monopolistic competitor in market When

When this monopolistic competitor makes Q units: (1) P > MC. (2) MR = MC. (3) total revenue total cost is maximized. (4) MSB > MSC. (5) All of the above.

Discover Q & A

Leading Solution Library

Avail More Than 1449518 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1961687
Asked

3,689

Active Tutors

1449518

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment