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 58 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
Gracias!

ashely1112

  • Member
  • Posts: 347
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

A Negative Afterimage A Negative Afterimage
Women who are 65 and older have a lower median income from all sources than men in the same age ... Women who are 65 and older have a lower median income from all sources than men in the same age ...
Ten Leading Causes of Death in Low-Income Countries, 2008 Ten Leading Causes of Death in Low-Income Countries, 2008
Relationship between Latitude and Income per Capita Relationship between Latitude and Income per Capita
The Parade of World Income The Parade of World Income
Mechanisms of negative control of transcription Mechanisms of negative control of transcription
Video: Erythropoietin (EPO)

For a complete list of videos, visit our video library