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Social Science Clinic => Economics => Microeconomics => Topic started by: jake on Jul 1, 2018

Title: Farm income has fallen in part because demand for farm products is price inelastic and income ...
Post by: jake 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

Title: Farm income has fallen in part because demand for farm products is price inelastic and income ...
Post by: Ahnyah on Jul 1, 2018

Answer to Question 1

A

Answer to Question 2

C