Scenario 5-1 Suppose That When the Average College Student's Income Is $10,000

question 136

Multiple Choice

Scenario 5-1
Suppose that when the average college student's income is $10,000 per year,the annual quantity demanded of Patty's Pizza is 50 and the annual quantity demanded of Sue's Subs is 80.Suppose that when the price of Patty's Pizza increases from $8 to $10 per pie,the quantity demanded of Sue's Subs increases from 80 to 100.Suppose also that when the average student's income increases to $12,000 per year,the annual quantity demanded of Patty's Pizza increases from 50 to 60.
-Refer to Scenario 5-1.Using the midpoint method,what is the income elasticity of demand for pizza and what does the value indicate about the demand for pizza?

• A)The income elasticity is 0.18 so pizza is a normal good.
• B)The income elasticity is -1 so pizza is an inferior good.
• C)The income elasticity is 1 so pizza is unitary elastic.
• D)The income elasticity is 1 so pizza is a normal good.

Analyze the impact of military technologies and strategies on the course of World War I.

Evaluate the political and social consequences of World War I on Europe and the wider world.

Identify the roles and perspectives of various nations involved in World War I.

Discuss the causes and effects of major battles and campaigns during World War I.

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Definitions:

Butanoic Acid

A carboxylic acid with the formula C4H8O2, known for its unpleasant odor, found naturally in plant and animal fats.

2-Pentanone

A five-carbon ketone with the formula CH3COCH2CH2CH3, used as a solvent in various industrial applications.

Thionyl Chloride

A reagent used in organic synthesis for transforming carboxylic acids into acyl chlorides or converting alcohols into alkyl chlorides.

2-Phenylethanol

An organic compound with a floral scent, commonly used in perfumery and flavoring, representing an alcohol with a phenyl group attached to the second carbon.