Which of the following is most likely an inferior good?
A) Rolex watches.
B) Nike running shoes.
C) Generic canned food.
D) A custom-built mansion.
Correct Answer:
Verified
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
Q89: Ceteris paribus,if income increases and as a
Q90: If two goods are complementary goods,then
A)The cross-price
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
Q95: Which of the following is the best
Q96: Suppose income falls 5 percent in a
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