The income elasticity of demand for the BMW Z3 sportscar is found to be 0.9.This means the BMW Z3
A) is a normal good.
B) has inelastic demand.
C) is a superior good.
D) has elastic demand.
E) is an inferior good.
Correct Answer:
Verified
Q143: A cross-price elasticity of -1.2 indicates the
Q144: If most consumer goods and services are
Q145: For which of the demand elasticities is
Q146: GreenTree Corporation sells live Christmas trees.It observes
Q147: Consumers who buy luxury cars seldom pay
Q149: A normal good will have an income
Q150: The price elasticity of demand for a
Q151: The income elasticity of demand for chicken
Q152: The cross-price elasticity for bread and butter
Q153: Given the following demand curve,P = 55
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents