This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a good is inferior, then the income elasticity of demand for that good is a. positive and ... (Read 71 times)

809779

  • Hero Member
  • *****
  • Posts: 579
on: Jul 1, 2018
If a good is inferior, then the income elasticity of demand for that good is
 a. positive and greater than 1
  b. negative
  c. positive and less than 1
  d. 0
  e. perfectly elastic

Question 2

If we wanted to prove that macaroni is an inferior good, we would test the __________ of macaroni and get a __________.
 a. cross-price elasticity; negative number
  b. income elasticity; number less than 1
  c. income elasticity; positive number
  d. price elasticity of demand; number greater than negative 1
  e. income elasticity; negative number


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cloud

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

E


809779

  • Member
  • Posts: 579
Reply 2 on: Jul 1, 2018
Gracias!

Dinolord

  • Member
  • Posts: 313
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Positive and negative selection during T-cell development. Positive and negative selection during T-cell development.
Good hand and body mechanics when applying thumb pressure to the back. Good hand and body mechanics when applying thumb pressure to the back.
Almonds and other nuts are also good sources of protein Almonds and other nuts are also good sources of protein
Income per Capita versus Inequality Income per Capita versus Inequality
How an Increase in Income Inequality Affects the Desired Tax Rate How an Increase in Income Inequality Affects the Desired Tax Rate
Palpating for skin elasticity Palpating for skin elasticity
Video: Body plan of euglena Animation

For a complete list of videos, visit our video library