If the income elasticity of demand for a good is negative it must be ?

Related Mcqs:

If a fisher must sell all of his daily catch before it spoils for whatever price he is offered once the fish are caught the fisherman’s price elasticity of supply for fresh fish is ?

A. zero B. infinite C. one D. unable to be determined form this information...

If consumers always spend 15 percent of their income on food. then the income elasticity of demand for food is ?

A. 1.50 B. 1.15 C. none of these D. 0.15 E. 1.00...

Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raise its price to Rs 40 per month the number of subscribers will fall to 20000 At which of the following price does small Town Cablevision earn the greatest total revenue ?

A. Rs 0 per month B. Rs 30 per month C. Rs 40 per month D. Either Rs 30 or Rs 40 per month because the price elasticity of demand is 1.0...

If demand is linear (a straight line) then price elasticity of demand is ?

A. elastic in the upper portion and inelastic in the lower portion B. inelastic in the upper portion and elastic in the lower portion C. inelastic throughout D. constant along the demand curve...

If consumers think that there are very few substitutes for a good, then ?

A. Supply would tend to be price elastic B. none of these answers C. demand would tend to be price inelastic D. demand would tend to be price elastic...