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joanne1718 joanne1718
wrote...
Posts: 441
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5 years ago

Question 1.

If the price of one good increases, and as a result the demand for another good increases, the goods are

• inferior goods.

• substitutes.

• complements.

• normal goods.

Question 2.

Which of the following goods is likely to have the highest income elasticity?

• tomato soup

• a designer blouse

• hamburger

• can of tuna
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
Read 75 times
1 Reply

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Replies
wrote...
5 years ago

Answer 1

substitutes.

Answer 2

a designer blouse
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