If demand for Tesla automobiles rises in an area where incomes have increased, this tells us that a Tesla is
A) a normal good.
B) an inferior good.
C) a complementary good.
D) a substitute good.
Correct Answer:
Verified
Q325: The responsiveness of demand to changes in
Q326: Income elasticity relates to
A) a movement down
Q327: Income elasticity of demand is defined as
A)
Q328: The income elasticity of demand for all
Q329: A measure of the responsiveness of demand
Q331: When Mary earned $3,200 per month, she
Q332: Suppose that the income elasticity of demand
Q333: Income elasticity of demand is defined as
A)
Q334: If an individual's income rises 4 percent
Q335: The income elasticity of demand
A) is positive
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