--%>

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 : Conscious Interdependence Oligopolists

    Oligopolists enter within formal or informal arrangements to fix prices within attempts to: (1) stabilize prices to customers. (2) compete more effectively along with foreign competitors. (3) reduce the price elasticity of market demand.  (4) max

  • Q : Market demand of purely competitive

    How purely competitive industries respond to raises in market demand depends upon: (w) the time period considered. (x) immediate quantity adjustments and longer run price adjustments. (y) each firm’s average total costs. (z) the slope of the mar

  • Q : Maximum possible total revenue by sales

    Maximum possible total revenue by sales of the especially popular St. Valentine’s Day software is about: (i) $140 million. (ii) $250 million. (iii) $350 million. (iv) $420 million. (v) $1 billion.

    Q : Calculate price elasticity of demand

    Paradise Planners sold deluxe Hawaiian winter vacation’s 170 packages at a price of $1900, although only 130 tourists signed up while the price increased to $2100. Such Hawaiian vacations have a price elasticity of demand approximately equal to:

  • Q : Relative Income Measurement Relative

    Relative income as given by the Bureau of the Census reflects a try to measure: (1) a nation’s wealth. (2) economic development in a country. (3) the value of nonhuman wealth. (4) how far a person’s income diverges from th

  • Q : Types of good An increase in the income

    An increase in the income of consumer X leads to a fall/down in the demand for that good by the consumer. What is good X termed? Answer: Normal good

  • Q : Inequality of Income in Loren Curve A

    A Lorenz curve which is more bowed away from a 45 degree line indicates larger: (w) degrees of economic competition. (x) success for anti poverty programs. (y) equality of income. (z) inequality of income. How can

  • Q : Maximum legal prices on resources or

    Please help me to solve the problem of economic that is given below. Maximum legal prices upon resources or goods are: (w) floors. (x) wedges. (y) disinflation. (z) ceilings.

    Q : Theory of Monopolistic Competition The

    The theory of monopolistic competition was developed through: (1) Alfred Marshall. (2) John Maynard Keynes. (3) Joseph Schumpeter. (4) Edward Chamberlin. (5) Antoine Augustin Cournot. Please choose the right answer

  • Q : Purely competitive price takers and

    Different from Firm D, Firms A and B as well as C are all: (w) profitable firms that enjoys significant market power. (x) purely-competitive price-takers and quantity-adjusters. (y) pure monopolies. (z) perfectly inelastic suppliers.

    Discover Q & A

    Leading Solution Library
    Avail More Than 1415431 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads
    No hassle, Instant Access
    Start Discovering

    18,76,764

    1937201
    Asked

    3,689

    Active Tutors

    1415431

    Questions
    Answered

    Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

    Submit Assignment

    ©TutorsGlobe All rights reserved 2022-2023.