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

Author Question: If the Engel curve for a good is upward sloping, the demand curve for that good must be downward ... (Read 64 times)

jayhills49

  • Hero Member
  • *****
  • Posts: 559
on: Jul 1, 2018
If the Engel curve for a good is upward sloping, the demand curve for that good must be downward sloping.
 
  Indicate whether the statement is true or false

Question 2

A good may be inferior at some income levels and normal at others.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Rilsmarie951

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jul 1, 2018
Answer to Question 1

True . If the Engel curve is upward sloping, the good is normal. As a result, the income effect will reinforce the substitution effect and guarantee a downward-sloping demand curve.

Answer to Question 2

True . A consumer may demand more of the good at low income levels and less of the good at higher income levels. Hamburger or macaroni and cheese dinners may be examples of such goods.


jayhills49

  • Member
  • Posts: 559
Reply 2 on: Jul 1, 2018
Wow, this really help

helenmarkerine

  • Member
  • Posts: 324
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

The human oxygen-hemoglobin dissociation curve. The human oxygen-hemoglobin dissociation curve.
The downward movement of the piston draws the air–fuel mixture into the cylinder through the ... The downward movement of the piston draws the air–fuel mixture into the cylinder through the ...
Patient with DiGeorge syndrome. Note low set ears and wide set downward slanting eyes; often these ... Patient with DiGeorge syndrome. Note low set ears and wide set downward slanting eyes; often these ...
China has relied on cheap coal to meet its demand for energy China has relied on cheap coal to meet its demand for energy
The Lorenz Curve for the United States, 2009 The Lorenz Curve for the United States, 2009
The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur
Video: Gas exchange - partial pressure, locations, external and internal respiration

For a complete list of videos, visit our video library