A good is said to be "normal" if
A) it is of high quality.
B) consumers buy more of it at a high price.
C) it has few substitutes.
D) it has a positive income elasticity of demand.
Correct Answer:
Verified
Q166: The percentage change in the quantity of
Q167: The percentage change in the quantity of
Q168: Explain why the price elasticity varies even
Q169: The cross-price elasticity of demand between spaghetti
Q170: If the quantity demanded of restaurant meals
Q172: A good is said to be "inferior"
Q173: The demand for a particular good depends
Q174: Suppose that the income elasticity of demand
Q175: Suppose that the income elasticity of demand
Q176: If quantity demanded of a good falls
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