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

Author Question: For which of the following goods is the value of income elasticity most likely to be negative? a. ... (Read 66 times)

torybrooks

  • Hero Member
  • *****
  • Posts: 500
on: Jul 1, 2018
For which of the following goods is the value of income elasticity most likely to be negative?
 a. macaroni and cheese
  b. champagne
  c. airline tickets
  d. clothes
  e. toothpaste

Question 2

Inferior goods have an income elasticity of demand that is
 a. positive
  b. negative
  c. 0
  d. greater than 1 in absolute value
  e. equal to 1 in absolute value


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

InfiniteSteez

  • Sr. Member
  • ****
  • Posts: 340
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


torybrooks

  • Member
  • Posts: 500
Reply 2 on: Jul 1, 2018
:D TYSM

okolip

  • Member
  • Posts: 362
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Positive and Negative Symptoms of Schizophrenia Positive and Negative Symptoms of Schizophrenia
Income per Capita versus Income of the Bottom Quintile Income per Capita versus Income of the Bottom Quintile
Capital’s Share of Income in a Cross-Section of Countries Capital’s Share of Income in a Cross-Section of Countries
Solow Model with Saving Dependent on Income Level Solow Model with Saving Dependent on Income Level
Lone-parent household income and the degree of vulnerability Lone-parent household income and the degree of vulnerability
In the drawing of acetaldehyde, CH3CHO, the largest partial negative charge (-) occurs on In the drawing of acetaldehyde, CH3CHO, the largest partial negative charge (-) occurs on
Video: Structures that affect circulation - arterioles and vasomotor responses

For a complete list of videos, visit our video library