What is the income elasticity of demand for an inferior good?
The income elasticity of demand for an inferior good is always negative.
Economics
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Karl Marx predicted that the exploitation of workers would cause capitalism to self-destruct
a. True b. False Indicate whether the statement is true or false
Economics
Most countries in the world have Gini coefficients ranging from:
A. 0.30 to 0.40. B. 0.25 to 0.60. C. 0.20 to 0.85. D. 0.10 to 0.50.
Economics
Explain the concept of inefficiency in terms of a production possibilities curve.
What will be an ideal response?
Economics
The value of cross elasticity of demand between orange soda and grape soda is
a. negative b. positive c. 0 d. between –1 and 0 e. less than –1
Economics