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Author Question: If a 5 percent decrease in income leads to a 15 percent decrease in the demand for a good, the ... (Read 108 times)

Anajune7

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on: May 24, 2019
If a 5 percent decrease in income leads to a 15 percent decrease in the demand for a good, the income elasticity of demand equals
◦ -1/3 and the good is an inferior good.
◦ 1/3 and demand for the good is income elastic.
◦ 3 and the good is a normal good.
◦ -3 and the demand for the good is income inelastic.
◦ 3 and the good is an inferior good.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by Anajune7 on May 24, 2019

chinwesucks

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Reply #1 on: May 24, 2019
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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Anajune7

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Reply #2 on: May 24, 2019
Excellent


chinwesucks

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Reply #3 on: May 24, 2019
Great! Please up vote :D


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