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Home Q & A Board Other Fields Homework Help Business Economics
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stars_and_moon stars_and_moon
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Posts: 3218
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7 years ago
If the income elasticity of demand for a product is -0.5, then
A) the product is an inferior good.
B) the income elasticity is inelastic.
C) poor people buy more of the good than rich people.
D) all of the above
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kingbykingby
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#1
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Posts: 3218
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7 years ago
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#2
7 years ago
Incredible!
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#3
7 years ago
I instantly knew the answer when I read the question, happy to help
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