Question

Economics


2. what does it mean if Income Elasticity is negative? Positive ​

Answer 1

Answer:

A negative income elasticity of demand is associated with inferior goods; an increase in income will lead to a fall in the demand and may lead to changes to more luxurious substitutes. A positive income elasticity of demand is associated with normal goods; an increase in income will lead to a rise in demand.

Explanation:

plz mark me as brainliest

Answer 2

Explanation:

• hello buddy
• like my answer
• follow me
• mark me a brainlist

• here is your answer buddy

1. the income elasticity of demand is the respon.......of the quantity demanded for a good to a change in consumer income. It is measured as the ratio of the percentage change in quantity demanded to the percentage change in income
2. Income elasticity of demands

• follow me guys

• thanks ❤️