Income elasticity of demand measures how responsive quantity demanded is to changes in income. how responsive price is to changes in quantity demanded. how responsive quantity demanded is to changes in price. how responsive income is to changes in education levels. For the next part, suppose the income elasticity of demand for butter is 0.03 . That means butter is a complementary good. a substitute good. a normal good. an inferior good. a luxury good.

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On april 1, santa fe, inc. paid griffith publishing company $2,448 for 36-month subscriptions to several different magazines. santa fe debited the prepayment to a prepaid subscriptions account, and the subscriptions started immediately. what amount should appear in the prepaid subscription account for santa fe, inc. after adjustments on december 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made?

The uptowner just paid an annual dividend of $4.12. the company has a policy of increasing the dividend by 2.5 percent annually. you would like to purchase shares of stock in this firm but realize that you will not have the funds to do so for another four years. if you require a rate of return of 16.7 percent, how much will you be willing to pay per share when you can afford to make this investment?