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

Author Question: If income rises and the demand for a product remains unchanged, the income elasticity of demand for ... (Read 60 times)

imowrer

  • Hero Member
  • *****
  • Posts: 514
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bigsis44

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


imowrer

  • Member
  • Posts: 514
Reply 2 on: Jul 1, 2018
Wow, this really help

Laurenleakan

  • Member
  • Posts: 309
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

The original Neandertal remains from the Neander Valley, Germany. The original Neandertal remains from the Neander Valley, Germany.
Product & Process Influences - Sterile Products Product & Process Influences - Sterile Products
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
Economic recession in 2008 saw a small decrease in demand Economic recession in 2008 saw a small decrease in demand
Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product
The phenotype of an organism is the product of interactions The phenotype of an organism is the product of interactions
Video: Olfaction. or the sense of smell

For a complete list of videos, visit our video library