An inferior good has a ________ income elasticity of demand and quantity demanded ________ as income rises
A) negative; increases
B) negative; decreases
C) positive; increases
D) positive; decreases
B
Economics
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Marginal social cost includes both the marginal private cost and the marginal external cost that production imposes on society
a. True b. False
Economics
What are the two characteristics that are essential to economic analysis of invention?
a. fixed-costs and public goods b. fixed-costs and private goods c. variable-costs and public goods d. variable-costs and private goods
Economics