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

Author Question: If income rises and the demand for a product remains unchanged, the income elasticity of demand for ... (Read 78 times)

imowrer

  • Hero Member
  • *****
  • Posts: 514
on: Jul 1, 2018
If income rises and the demand for a product remains unchanged, the income elasticity of demand for that product is unit elastic.
 a. True
  b. False

Question 2

A normal good is defined as a product for which quantity demanded increases as price decreases.
 a. True
  b. False


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bigsis44

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


imowrer

  • Member
  • Posts: 514
Reply 2 on: Jul 1, 2018
Gracias!

ttt030911

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

The Krapina remains may provide evidence of cannibalism by some Neadertals. The Krapina remains may provide evidence of cannibalism by some Neadertals.
Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
Saving Rate by Decile of Income per Capita Saving Rate by Decile of Income per Capita
Importance of Considering Gestalt Principles in Product Design Importance of Considering Gestalt Principles in Product Design
Importance of Considering Gestalt Principles in Product Design Importance of Considering Gestalt Principles in Product Design
Use the product rule to find derivative Use the product rule to find derivative
Video: Ciliate conjugation Animation

For a complete list of videos, visit our video library