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Author Question: Demand for a necessity, such as food, is a. both income and price inelastic b. income inelastic ... (Read 195 times)

waynest

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on: Jul 1, 2018
Demand for a necessity, such as food, is
 a. both income and price inelastic
  b. income inelastic and price elastic
  c. income elastic and price inelastic
  d. both income and price elastic
  e. income elastic and perfectly price inelastic

Question 2

As the economy recovers from a recession, we should expect that
 a. demand for inferior goods will fall and demand for normal goods will rise
  b. demand for both inferior and normal goods will rise
  c. demand for inferior goods will rise and demand for normal goods will fall
  d. demand for both inferior and normal goods will fall
  e. demand for complements will fall


skipfourms123

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

A

Answer to Question 2

A


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waynest

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Reply #2 on: Jul 1, 2018
Thank you


skipfourms123

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Reply #3 on: Jul 1, 2018
No problemo


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