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Author Question: If a good is inferior, then the income elasticity of demand for that good is a. positive and ... (Read 149 times)

809779

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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


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cloud

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

E


809779

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  • Posts: 579
Reply 2 on: Jul 1, 2018
Excellent

adf223

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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