[Answered] For inferior goods, the income elasticity of demand is negative. Indicate whether the statement ...

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nevelica

Hero Member
Posts: 563

on: Jun 29, 2018

For inferior goods, the income elasticity of demand is negative.

Indicate whether the statement is true or false

Question 2

A monopolistically competitive firm produces a good or service that has no close substitutes.

Indicate whether the statement is true or false

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Marked as best answer by a Subject Expert

amandalm

Sr. Member
Posts: 306

Reply #1 on: Jun 29, 2018

Answer to Question 1

TRUE

Answer to Question 2

FALSE

nevelica

Member
Posts: 563

Reply 2 on: Jun 29, 2018

TYSM

xoxo123

Member
Posts: 335

Reply 3 on: Yesterday

Excellent

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