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

Author Question: If a good is inferior, then the income elasticity of demand for that good is a. positive and ... (Read 70 times)

809779

  • Hero Member
  • *****
  • Posts: 579
on: Jul 1, 2018
If a good is inferior, then the income elasticity of demand for that good is
 a. positive and greater than 1
  b. negative
  c. positive and less than 1
  d. 0
  e. perfectly elastic

Question 2

If we wanted to prove that macaroni is an inferior good, we would test the __________ of macaroni and get a __________.
 a. cross-price elasticity; negative number
  b. income elasticity; number less than 1
  c. income elasticity; positive number
  d. price elasticity of demand; number greater than negative 1
  e. income elasticity; negative number


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cloud

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

E


809779

  • Member
  • Posts: 579
Reply 2 on: Jul 1, 2018
:D TYSM

Joy Chen

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Cell-wall structure of Gram-positive and Gram-negative bacteria. Cell-wall structure of Gram-positive and Gram-negative bacteria.
Positive and Negative Symptoms of Schizophrenia Positive and Negative Symptoms of Schizophrenia
Use a DMM set to read DC volts to check the voltage drop of the positive circuit to the fuel ... Use a DMM set to read DC volts to check the voltage drop of the positive circuit to the fuel ...
A good posture for practicing meditation is seated in a chair with the back upright and in ... A good posture for practicing meditation is seated in a chair with the back upright and in ...
The population of Asia increases rapidly, the demand for food and water is also growing The population of Asia increases rapidly, the demand for food and water is also growing
Too Much Alcohol Costs You Good Nutrition Too Much Alcohol Costs You Good Nutrition
Video: Blood Test Basics

For a complete list of videos, visit our video library