Solved

Nancy's Income Has Just Risen from $950 Per Week to $1050

Question 127

Multiple Choice

Nancy's income has just risen from $950 per week to $1050 per week.As a result,she decides to double the number of movies she attends each week.Nancy's demand for movies is


A) price elastic.
B) income elastic.
C) price inelastic.
D) income inelastic.
E) positively cross inelastic.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q122: Consider the following data for a hypothetical

Q123: When the percentage change in quantity demanded

Q124: A value of infinity for the elasticity

Q125: If a product's income elasticity of demand

Q126: A value of zero for the elasticity

Q128: If a product's income elasticity of demand

Q129: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5441/.jpg" alt=" FIGURE 4-2 -Refer

Q130: If per capita income increases by 10%

Q131: A demand curve for which any price-quantity

Q132: If Vicky's income increases by 8% and