Ask Question
21 February, 19:39

An inferior gooda) has a negative income elasticity b) is one where the demand curve shifts to the left when income goes upc) exists only in theoryd) is low-quality goode) both a and b are true

+5
Answers (1)
  1. 21 February, 20:08
    0
    Answer: Has a negative income elasticity.

    Explanation:

    An inferior good demand would drop with an increase in income of the consumers of it, therefore inferior good normally experience negative income elasticity of demand. This drop occurs because, as consumers earn more they would now love to buy original goods.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “An inferior gooda) has a negative income elasticity b) is one where the demand curve shifts to the left when income goes upc) exists only ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers