Sergio's rentals of Blu-ray movies increase by 10 percent when her income increases by 30 percent.Based on this information,we know that for Sergio Blu-ray movies
A) are complements.
B) are substitutes.
C) are inferior goods.
D) have an inelastic demand.
E) are normal goods.
Correct Answer:
Verified
Q222: A product that has a negative income
Q223: When income increases from $20,000 to $30,000
Q224: If a good is inferior,then it has
Q225: For a good such as food,the income
Q226: If a 5 percent decrease in income
Q228: Goods are _ when the income elasticity
Q229: What is an inferior good?
A) a product
Q230: Alan purchases 10 percent fewer bags of
Q231: The income elasticity of demand for skiing
Q232: The income elasticity of demand for foreign
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