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

Khái niệm Kinh tế lao động ? Vai trò của Kinh tế lao động /
A mirror forms an erect image 40cm from the object and one third its height where must the mirror be situated ​
PLS HELP ME ON THIS QUESTION I WILL MARK YOU AS BRAINLIEST IF YOU KNOW THE ANSWER PLS GIVE ME A STEP BY STEP EXPLANATION!!
(x-1)(x-3)(x+5)(x+7)=297
how do you solve this?
Solve for x if 25'+ 3(5') = 4​
please help!! will give brainliest
Density of an object can be found by calculating mass divided by volume. If two objects have the same mass, but one has a greater volume, the object with more v
Use substitution to solve the following system of equations. What is the value of y?
what is 2x2x2x3x3 please give me answer