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

what strategic advantage did the thirteen colonies enjoy because of their geographic location?
order from least to greatest 2.614; 2.146; 2.46; 2.164
A schoolbook has 376 pages.There are six pages in each chapter. How many pages are left over for the contents and answers?
Mr. Derbyshire makes a business trip from his house to loganville in 2 hours. One hour later, he returns home in traffic at a rate 20mph less than his rate goin
If y=-4 when x=10, determine y when x=5
describe an advance in technology that makes life more enjoyable. what discoveries contribute to this technology?
suppose that x and y are both integers. find the solution of 10x^2+11xy+3y^2=7
What country is located at 15 degree north 105 degree east
In addition to replacing the president if necessary, it's the duty of the vice president to
What does a journal written by frontier settlers most likely tell you about Manifest Destiny?