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inkster inkster
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2 years ago
Which of the following statements correctly describes an inferior good? An inferior good has

▸ a positive income elasticity of demand.

▸ a positive income elasticity of demand and a price elasticity of demand greater than 1.

▸ a negative income elasticity of demand.

▸ a negative price elasticity of demand.

▸ an income elasticity of demand greater than zero but less than 1.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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navgilnavgil
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2 years ago
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