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Lauren1 Lauren1
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Posts: 4120
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9 years ago
In the nation of Transporta, the income elasticity of demand for used cars is -2.66. So when incomes in this nation increase by 10 percent,
A) the quantity of used cars demanded will increase by 26.6 percent.
B) used cars will be normal goods.
C) the quantity of used cars demanded will decrease by 26.6 percent.
D) the demand curve for used cars will shift rightward.
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MrDerecheMrDereche
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#1
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Posts: 4095
Rep: 304 0
9 years ago
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Lauren1 Author
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#2
9 years ago
Thank you, this really, really helps Heavy Heart
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#3
9 years ago
You're welcome!
wrote...
#4
3 years ago
thank you
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