Last Year, Joan Bought 50 Pounds of Hamburger When Her

question 114

Multiple Choice

Last year, Joan bought 50 pounds of hamburger when her household income was $40,000.This year, her household income was only $30,000 and Joan bought 60 pounds of hamburger.Holding everything else constant, Joan's income elasticity of demand for hamburger is

• A)positive, so Joan considers hamburger to be an inferior good.
• B)negative, so Joan considers hamburger to be an inferior good.
• C)positive, so Joan considers hamburger to be a normal good and a necessity.
• D)negative, so Joan considers hamburger to be a normal good.

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Definitions:

LEO

Low Earth Orbit, a satellite system orbiting relatively close to Earth, often used for telecommunications, military, and observation purposes.

Footprint

In a technological context, the term often refers to the amount of space occupied by a device, or the environmental impact of producing and disposing of it.

GEO

A Geostationary Earth Orbit is a circular path located 35,786 kilometers directly above the Earth's equator, moving in the same direction as the Earth rotates.

LEO

stands for Low Earth Orbit, which is an orbit relatively close to the Earth's surface, used for many types of satellites, including those for communication, observation, and science.