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

Author Question: For which of the following goods is the value of income elasticity most likely to be negative? a. ... (Read 28 times)

torybrooks

  • Hero Member
  • *****
  • Posts: 500
on: Jul 1, 2018
For which of the following goods is the value of income elasticity most likely to be negative?
 a. macaroni and cheese
  b. champagne
  c. airline tickets
  d. clothes
  e. toothpaste

Question 2

Inferior goods have an income elasticity of demand that is
 a. positive
  b. negative
  c. 0
  d. greater than 1 in absolute value
  e. equal to 1 in absolute value


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

InfiniteSteez

  • Sr. Member
  • ****
  • Posts: 340
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


torybrooks

  • Member
  • Posts: 500
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

ttt030911

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

negative feedback loop negative feedback loop
Nonverbal communications convey strong, powerful messages that may be negative or positive. Nonverbal communications convey strong, powerful messages that may be negative or positive.
Meditation Reduces Negative Emotions Meditation Reduces Negative Emotions
Income per Capita versus Income of the Bottom Quintile Income per Capita versus Income of the Bottom Quintile
The Parade of World Income The Parade of World Income
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
Video: Neural regulation of blood pressure - baroreceptor and chemoreceptor reflexes

For a complete list of videos, visit our video library