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If a good has a negative income elasticity of demand, this indicates that the good is

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If a good has a negative income elasticity of demand, this indicates that the good is

Question 1.

Linesha, a college student working part-time received a wage increase. An avid movie buff, she increased her purchases of Blu-ray discs and reduced her purchases of DVDs. Based on this information

• DVDs and Blu-ray discs are substitutes.

• Blu-ray discs are normal goods and DVDs are inferior goods.

• DVDs and Blu-ray discs are normal goods.

• the cross-price elasticity between DVDs and Blu-ray discs is negative.

Question 2.

If a good has a negative income elasticity of demand, this indicates that the good is

• a substitute with another good.

• a complement with another good.

• inferior.

• normal.

Textbook

Microeconomics

Edition: 7^th

Authors: Hubbard, O'Brien

Read 90 times

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