After John's income rose by 8 percent,the amount of chicken he consumed fell by 2 percent.This means that
A) his income elasticity for chicken is positive
B) chicken is a normal good for John
C) his demand curve for chicken shifted to the left
D) his demand curve for chicken shifted to the right
E) John is spending more of his income on chicken than before
Correct Answer:
Verified
Q115: If the quantity of higher education demanded
Q116: The fact that travel on buses fell
Q117: The income elasticity of demand measures
A)the relative
Q118: Suppose that the income elasticity of demand
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