Exam Question
Inferior goods have…and luxury goods have…
- 1. negative income elasticities, income elasticities greater than 1
- 2. income elasticities greater than 1, negative income elasticities
- 3. positive income elasticities, negative income elasticities
- 4. none of the above
View Answer
Answer 1. negative income elasticities, income elasticities greater than 1
Practice set and Exam Quiz
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