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Which of the following related to Transfer payment? O Pocket money to children O Payment made to housewife All the above O wear and tear cost

Which of the following related to Transfer payment? O Pocket money to children O Payment made to housewife All the above O wear and tear cost

Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter11: Marketing And Distribution
Section11.1: The Charging Role Of Marketing
Problem 2R
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Which of the following related to Transfer payment? Pocket money to children Payment made to housewife All the above wear and tear cost
Transcribed Image Text:Which of the following related to Transfer payment? Pocket money to children Payment made to housewife All the above wear and tear cost
The consumption of food is denoted by 'a' and the consumption of all other goods by 'b'. The demand for food as a function of prices and income is given by: Suppose that Qa(pa,pb,M)=5M/8pa. M=200, pa-6, and pb-10. The change in consumption of food that is caused by a 2% increase in W is approximately An increase of 2% in demand of b. There is no change. A decrease of 2% in demand of a. An increase of 2% in demand of a.
Transcribed Image Text:The consumption of food is denoted by 'a' and the consumption of all other goods by 'b'. The demand for food as a function of prices and income is given by: Suppose that Qa(pa,pb,M)=5M/8pa. M=200, pa-6, and pb-10. The change in consumption of food that is caused by a 2% increase in W is approximately An increase of 2% in demand of b. There is no change. A decrease of 2% in demand of a. An increase of 2% in demand of a.
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