True or false? if the price consumption curve (as the price of x changes) is horizontal, then good y must be a normal good. (a) true (b) false 7. true or false? if the income consumption curve is upward sloping, then the price consumption curve( as the price of x changes) must be upward sloping too. (a) true (b) false 8. true or false? if the engel curve for good x is vertical, then the law of demand must hold for good x. (a) true (b) false

Choose the best term for each definitionexpense, liability, monetary asset, statement of financial position, tangible asset, net worth, market value, investment asset, income, assetitems of monetary value a person or household ownsmoney spentmoney receivedfinancial assets purchased with the hope that they will generate income and appreciate in value to make it possible to sell at a higher price in the futurea debt or obligation owed to othersthe amount you could realistically sell an asset forassets that can be quickly and easily converted into casha measure of financial wealth and indicates the monetary value of all possessions that a person or household owns, minus the total amounts owed to othersa financial statement that describes an individual or family's financial condition on a specified date by showing assets, liabilities, and net worthpersonal property that was purchased to create a lifestyle or improve your life

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided

Suppose that alexi and tony can sell all their street tacos for $2 each and all their cuban sandwiches for $7.25 each. if each of them worked 20 hours per week, how should they split their time between the production of street tacos and cuban sandwiches? what is their maximum joint revenue?