With an income elasticity of demand of 0.5, cigarettes are an example of
a. a normal good
b. an inferior good
c. irrational demand
d. complements to health care
e. unitary elasticity
A
Economics
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The ________ curve shows a(n) ________ relationship between the real wage and the number of workers who are willing to work
A) labor demand; direct B) labor demand; positive C) labor supply; inverse D) labor supply; positive
Economics
A monopolistic competitor earns zero economic profits if ________
A) price is higher than average total cost B) price is lower than marginal cost C) price is equal to marginal cost D) price is equal to average total cost
Economics