Ceteris paribus,if income increases and as a result,the demand for good X increases and the demand for good Y falls,
A) Good X is an inferior good and good Y is a normal good.
B) Good X is a normal good and good Y is an inferior good.
C) Goods X and Y are substitute goods.
D) Goods X and Y are complementary goods.
Correct Answer:
Verified
Q84: The demand for normal goods
A)Rises when incomes
Q85: If the price of Coke rises by
Q86: Assume that store brand cereal is an
Q87: Income elasticity measures the
A)Responsiveness of quantity demanded
Q88: If two goods are substitute goods,
A)The percentage
Q90: If two goods are complementary goods,then
A)The cross-price
Q91: Which of the following is most likely
Q92: If the cross-price elasticity of demand for
Q93: If income rises by 10 percent and
Q94: If a good is inferior,its
A)Cross-price elasticity is
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