Multiple Choice
If a good has an income elasticity of 1.83,then it:
A) is a normal good, and a necessity.
B) is an inferior good, and a necessity.
C) probably has a lot of close substitutes available.
D) is a luxury.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q122: The demand for dolls is _ than
Q123: Suppose price increases from $7.00 to $13.00.Using
Q124: The demand for Ben & Jerry's ice
Q125: Different measurements of elasticity include:<br>A) income elasticity
Q126: How much the demand for one good
Q128: When price was 10,quantity demanded was 50.When
Q129: A determinant of the price elasticity of
Q131: A good with an income elasticity of
Q132: The price elasticity of demand for leisure
Q155: When two goods are complements, their cross-price