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Author Question: If income rises and the demand for a product remains unchanged, the income elasticity of demand for ... (Read 117 times)

imowrer

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on: Jul 1, 2018
If income rises and the demand for a product remains unchanged, the income elasticity of demand for that product is unit elastic.
 a. True
  b. False

Question 2

A normal good is defined as a product for which quantity demanded increases as price decreases.
 a. True
  b. False


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bigsis44

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

B

Answer to Question 2

B


imowrer

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  • Posts: 514
Reply 2 on: Jul 1, 2018
Excellent

cam1229

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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