Top Posters
Since Sunday
7
6
o
5
b
4
s
3
j
3
b
3
m
3
K
3
g
3
L
3
w
3
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
stars_and_moon stars_and_moon
wrote...
Go to Answer
Posts: 3218
Rep: 11 0
7 years ago
The price elasticity of demand for good A is 3.5 and the price elasticity of demand for good B is 0.5. Which of the following statements is consistent with these elasticities?
A) Good A is a normal good but good B is an inferior good.
B) Good A has a lot of substitutes but good B does not have many substitutes.
C) Good A is a small part of a person's budget but good B is a large part of the budget.
D) all of the above
Read 105 times
3 Replies
Replies
Answer verified by a subject expert
kingbykingby
wrote...
#1
Top Poster
Posts: 3218
Rep: 26 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
1

Related Topics

wrote...
#2
7 years ago
Incredible!
wrote...
#3
7 years ago
I instantly knew the answer when I read the question, happy to help
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1066 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 150
  
 192
  
 161
Your Opinion
What's your favorite math subject?
Votes: 315
Previous poll results: How often do you eat-out per week?