35) If your income elasticity of demand for hot dogs is negative, then: A) your demand...
35) If your income elasticity of demand for hot dogs is negative, then:
A) your demand curve for hot dogs is not downward sloping.
B) hot dogs are an inferior good for you.
C) hot dogs have no close substitutes for you.
D) you must not enjoy eating hot dogs.
1) The price elasticity of demand is a measure of:
A) the change in quantity demanded of a good that results from a change in its price.
B) the change in price of a good that results from a change in its quantity demanded.
C) the demand for a good.
D) how consumers respond to excess demand.
Homework Answers
1) Income elasticity is negative then hot dogs have no close substitutes for you.
2)The price elasticity is a measure of the change in quantity demanded of a good that results from a change in its price.
Add Answer to:
35) If your income elasticity of demand for hot dogs is
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