Multiple ChoiceJohnny Clutch just got a raise from $900 per week to $1100 per week. As a result, he decreases the amount of ramen noodles he buys from seven cartons a week to one carton a week. For Johnny, ramen noodles are:306views1rank
Multiple ChoiceJohnny Clutch just got a raise from $950 per week to $1,050 per week. As a result, he increases the number of concerts he attends by five percent. His demand for concerts is:282views2rank
Multiple ChoiceA twelve percent increase in consumer income has caused the quantity of orange juice demanded to increase from 24,000 to 26,000. The income elasticity of demand for orange juice is:267views4rank