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Author Question: What is the income elasticity of demand for an inferior good?[br][br][b][color=#A83E49]Question ... (Read 87 times)

nramada

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on: Jun 30, 2018
What is the income elasticity of demand for an inferior good?

Question 2

Each firm under perfect competition charges different prices for its products.
 a. True
  b. False
  Indicate whether the statement is true or false


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pratush dev

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Reply #1 on: Jun 30, 2018
Answer to Question 1

The income elasticity of demand for an inferior good is always negative.

Answer to Question 2

False


nramada

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Reply #2 on: Jun 30, 2018
Thank you :)


pratush dev

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Reply #3 on: Jun 30, 2018
Happy to help you


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