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

how many molecules of oxygen is in water
Which of the following best describes renewable energy? A. Natural mineral source of energy B. Sources that can be mined or drilled, and will last for a finite
Which represents the inverse of the function f(x) 4x? O h(x) = x + 4 O h(x) = x - 4 O h(x) Sx O h(x) = ~x
Plot the graph of 2x - y = 6 and y = 4. Write down the coordinates of the point where the lines intersect
you spent $25 at the store. you bought a book for $8.50 and pencils for $.25 each. how many pencils did you buy?
why does bread dough is needed to be left for hours or a day before baking?​
1.07 x 104 -3.38 × 10³
how many molecules of oxygen is in water
Cuanto vale la y en matemáticas
PLEASE HELP!! Whats the lifestyle or entertainment in The Odyssey? (I need it for a newspaper project so please answer w a good explanation)