Answered: A negative income elasticity of demand…

A negative income elasticity of demand for a commodity indicates that as income falls, the amount of the commod- ity purchased (a) rises, (b) falls, (c) remains unchanged, or (d) any of the above.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 3SQP

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A negative income elasticity of demand for a commodity indicates that as income falls, the amount of the commod-
ity purchased (a) rises, (b) falls, (c) remains unchanged, or (d) any of the above.

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