Multiple Choice
Normal goods
A) have positive income elasticity of demand.
B) have negative income elasticity of demand.
C) have negative elasticity of supply.
D) do not have elasticity of demand.
E) are sometimes also inferior goods.
Correct Answer:
Verified
Correct Answer:
Verified
Q86: For a normal good,the quantity demanded<br>A)responds inversely
Q87: For which of the following pairs of
Q88: If the income elasticity of demand for
Q89: If the demand for some good fluctuates,but
Q90: If demand is unit elastic at all
Q92: The table below shows the demand schedule
Q93: Demand Schedule for Ski Tickets<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5441/.jpg"
Q94: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5441/.jpg" alt=" FIGURE 4-2 -Refer
Q95: An inferior good has<br>A)a positive income elasticity
Q96: Suppose the cross-elasticity of demand for two