If the percentage change in quantity demanded of a good is less than the percentage change in buyer's income, then the good is said to be
A) income elastic.
B) income inelastic.
C) income unit elastic.
D) price elastic.
E) price inelastic.
Correct Answer:
Verified
Q70: Exhibit 19-1 Q71: Exhibit 19-1 Q72: Exhibit 19-2 Q73: If the percentage change in quantity demanded Q74: If for good Z income elasticity is Q76: Price elasticity of supply is the percentage Q77: Suppose a producer decides that if the Q78: An inferior good is Q79: A normal good is Q80: If good Z has an income elasticity 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
A)any good that consumers
A)any good that consumers
