--%>

Goods of negative income elasticity of market demand

When the income elasticity of market demand is negative, in that case most consumers view the good as: (w) a luxury good. (x) having several imperfect substitutes. (y) an inferior good. (z) a normal good.

Hey friends please give your opinion for the problem of Economics that is given above.

   Related Questions in Microeconomics

  • Q : Manufacturing assets by biggest

    Over half of all the manufacturing assets are held by the _____ biggest corporations in the United States. (w) 5 (x) 100 (y) 10 (z) 200 Can someone please help me in finding out the precise answer from the above options.

  • Q : Use of Loren Curve A Lorenz curve can

    A Lorenz curve can be utilized to demonstrate the: (w) functional distribution of income. (x) income necessary to maintain specified living standards. (y) demand for low wage labor. (z) cumulative percentage of income received by cumulative percentage

  • Q : Determine price and quantity by

    The price elasticity of demand at a specified price and quantity is demonstrated by the ratio of the relative as: (w) change within quantity demanded over a specified proportional price change. (x) reciprocal of the price elasticity o

  • Q : Substitutes and compliments pizza and

    pizza and sausage substitute or compliment wheat and rye substitute or compliment

  • Q : Price of input influencing goods supply

    Elucidate how does change in price of input influence the supply of a good.

  • Q : Statistical perspective of Inferior

    On an average, American families with more income tend to contain fewer children than families with less income. This fact recommends that, at least from a purely statistical perspective, the American children are: (1) Inferior goods. (2) Substitute goods for the cats

  • Q : Pure competitors in the market structure

    Marginal revenue is not below the market price by the perspectives of simply: (i) monopolistic competitors. (ii) monopolists. (iii) cartel members. (iv) pure oligopolists. (v) pure competitors. Can

  • Q : Meaning of tax Meaning of tax : Tax is

    Meaning of tax: Tax is a legally compulsory payment imposed on the people by the government. There are two kinds of taxes: Direct taxes and Indirect taxes.

  • Q : Well-recognized market structure

    Well-recognized market structures do not comprise: (i) monopoly. (ii) monopolistic competition. (iii) oligopoly. (iv) oligarchy. (v) pure or perfect competition. I need a good answer on the topic of Economi

  • Q : Problem on shortages or surpluses I

    I have a problem in economics on Problem on shortages or surpluses. Please help me in the following question. No shortages or surpluses exist if: (1) Central planners set prices which equivalent production costs. (2) The market is in equilibrium. (3)