the income elasticity of demand is negative for a
Answers
Answered by
0
Answer:
the question is incomplete
Answered by
5
Basically, a negative income elasticity of demand is linked with inferior goods, meaning rising incomes will lead to a drop in demand and may mean changes to luxury goods. A positive income elasticity of demand is linked with normal goods. In this case, a rise in income will lead to a rise in demand
Similar questions