Farm income has fallen in part because demand for farm products is price inelastic and income ...

Author Question: Farm income has fallen in part because demand for farm products is price inelastic and income ... (Read 81 times)

jake

Hero Member
Posts: 538

on: Jul 1, 2018

Farm income has fallen in part because demand for farm products is price inelastic and income inelastic.
a. True
b. False

Question 2

Luxury goods are
a. price inelastic
b. income inelastic
c. income elastic
d. goods with negative income elasticity
e. goods with positive price elasticity

Ahnyah

Sr. Member
Posts: 336

Reply #1 on: Jul 1, 2018

Answer to Question 1

A

Answer to Question 2

C

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