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Author Question: Which of the following statements correctly describes an inferior good? An inferior good has (Read 30 times)

kled

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on: Oct 12, 2022

Question 1

Which of the following statements correctly describes a normal good? Normal goods
◦ have negative income elasticity of demand.
◦ have positive income elasticity of demand.
◦ are sometimes also inferior goods.
◦ have negative elasticity of supply.
◦ do not have elasticity of demand.

Question 2

Which of the following statements correctly describes an inferior good? An inferior good has
◦ a positive income elasticity of demand.
◦ a positive income elasticity of demand and a price elasticity of demand greater than 1.
◦ a negative income elasticity of demand.
◦ a negative price elasticity of demand.
◦ an income elasticity of demand greater than zero but less than 1.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by kled on Oct 12, 2022

Rcfelber

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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kled

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

Sarahjh

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Reply 3 on: Yesterday
Excellent

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