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Income elasticity of demand for inferior goods is negative.

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2015-2016 (March)

Question 1.3.1 | 1 mark

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Price elasticity of demand of goods X is -2 and goods Y is -3. Which of the two goods is more price elastic and why?

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Solution for question: Income elasticity of demand for inferior goods is negative. concept: Elasticity of Demand. For the courses HSC Arts, HSC Commerce, HSC Commerce (Marketing and Salesmanship), HSC Science (Computer Science), HSC Science (Electronics), HSC Science (General)

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Solution - Income elasticity of demand for inferior goods is negative. - Elasticity of Demand

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