If a good is a necessity the income elasticity of demand must be
A) Positive
B) Zero
C) Negative but less negative than -1
D) Negative and more negative than -1
Correct Answer:
Verified
Q163: If a good is inferior the income
Q164: If a good is a luxury the
Q165: If the percentage change in quantity supplied
Q166: If the percentage change in price is
Q167: If the percentage change in quantity supplied
Q168: If the percentage change in price is
Q169: If the percentage change in quantity supplied
Q170: If the percentage change in price is
Q171: If there is no change in price
Q172: If the percentage change in quantity supplied
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents