Assuming that bus travel is an inferior good, an increase in consumer income, other things being equal, will cause
a. an upward movement along the demand curve for bus travel.
b. a downward movement along the demand curve for bus travel.
c. a rightward shift in the demand curve for bus travel.
d. a leftward shift in the demand curve for bus travel.
D
Economics
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The price elasticity of demand can be computed as
A) change in total utility/change in quantity. B) change in price/change in quantity demanded. C) percentage change in quantity demanded/percentage change in price. D) change in quantity demanded/change in price.
Economics
What is the main cause of the uneven distribution of economic growth seen around the world?
What will be an ideal response?
Economics