Answered: If the income elasticity of demand…

If the income elasticity of demand computed using the endpoint method is .5 what term describes demand for good A? Group of answer choices Normal Inferior Complements Substitutes Elastic Inelasti

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter20: Elasticity: Demand And Supply

Section: Chapter Questions

Problem 11E: The price elasticity of the demand for gasoline is -0.02. The price elasticity of demand for...

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Question

If the income elasticity of demand computed using the endpoint method is .5 what term describes demand for good A?

Group of answer choices

Normal

Inferior

Complements

Substitutes

Elastic

Inelastic

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