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Author Question: If a good is an inferior good, then its A) demand curve will be upward sloping. B) income effect ... (Read 117 times)

vinney12

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on: Jul 1, 2018
If a good is an inferior good, then its
 
  A) demand curve will be upward sloping.
  B) income effect reinforces the substitution effect.
  C) income elasticity is negative.
  D) Engel curve cannot be drawn.

Question 2

A Giffen good has
 
  A) a positive substitution effect.
  B) a negative income effect.
  C) a larger income effect than substitution effect.
  D) All of the above.


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KKcool

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

D


vinney12

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

tuate

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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