The income elasticity of demand is ________ if the good is ________ good.
A) positive; a normal
B) positive; an inferior
C) negative; a normal
D) less than one; an inferior
E) positive; a substitute
Correct Answer:
Verified
Q212: The cross elasticity between computers and software
Q213: If Pepsi goes on sale and decreases
Q214: The income elasticity of demand is a
Q215: Tennis balls and tennis rackets are complements.If
Q216: If the cross elasticity of demand is
Q218: Assume that it is predicted that for
Q219: If a lower price for good X
Q220: When two goods are related such that
Q221: People take fewer trips by airplane when
Q222: A product that has a negative income
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