If the demand for coffee decreases as income decreases, coffee is ?

Related Mcqs:

An increase in the price of a complement for product A would ?

A. Shift demand for Product A outwards B. Shift demand for product A inwards C. Shift supply for product A outwards D. Shift supply for product A inwards...

Which of the following would decease aggregate demand ?

A. increase consumption B. increasing export revenue C. increased taxation revenue D. increased investment...

When excess demand occurs in an unregulated market, there is a tendency for ?

A. price to fall B. quantity supplied to decrease. C. price to rise D. quantity demanded to increase...

If the cross elasticity of demand is -2 ?

A. The products are substitutes and demand is cross price elastic B. The products are substitutes and demand is cross price inelastic C. The products are complements and demand is cross price elastic D. The products are complements and demand is cross price inelastic...

The extra utility from consuming one more unit of a good is called ?

A. Marginal utility B. Additional utility C. Surplus utility D. Bonus utility...