If over the last twenty years consumer incomes declined by 20% and consumption of public transport...
If over the last twenty years consumer incomes declined by 20% and consumption of public transport increased by 10%, which of these statements must be true?
A. Public transportation’s demand curve is downward sloping.
B.Public transportation must have decreased its prices by more than 20%.
C.Public transportation is an inferior good.
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If over the last twenty years consumer incomes declined by 20%
and consumption of public transport...
Consider the truthfulness of the following statement. If the income consumption curve is downward sloping, then...
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Bob sells farm equipment in lowa and has for twenty years. The last two months he has seen the quantity demanded for high-end tractors decrease by 35% compared to the same time last year. What is a possible explanation for events that have shifted the demand curve? OCustomers' incomes have increased. The price of tractors has increased O Customers' incomes have decreased. A ruthless dictator has recently taken over the small island of Tokoli's government and is making changes to...
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