Answered: Bus rides and canned soup are inferior…

Bus rides and canned soup are inferior goods, so the elasticity of demand is A. income; negative B. cross; positive C. income; positive D. cross; negative

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 15CTQ: Income Effects depend on the income elasticity of demand for each good limit you buy. If one of the...

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Question

Bus rides and canned soup are inferior goods, so the
elasticity of demand is
A. income; negative
B. cross; positive
C. income; positive
D. cross; negative

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