PolhjleleGwhattymu
PolhjleleGwhattymu PolhjleleGwhattymu
  • 01-04-2016
  • Business
contestada

True or False:If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is an inferior good.

Respuesta :

meerkat18
meerkat18 meerkat18
  • 05-04-2016
False. 

If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is a GIFFEN GOOD. 

An inferior good is a good that decreases in demand if income increases. These are the goods that people opt not to buy when their purchasing power increases.
Answer Link

Otras preguntas

Why does 2 pi divided by 1/3 equal 6 pi?
Which one of the following is smallest in size ?N3-               O2-               F-                Na
What type of reaction occurs when you strike a match?
What causes chemical weathering?
The positive integer x is a multiple of 9 and also a multiple of 12. The smallest possible value of x is (A) 3 (B) 12 (C) 21 (D) 36 (E) 72
Which physical feature has most limited the movement of people living in North America ?
what religion did mansa musa of mali help spread
The tropical climate zone is in which two states?
The fetus is nourished by the __________ during the first 7 weeks and by the _______ from week 8 through birth ?
how can you simplify 24                                ---                                30