Question

what is the implication of negative sign in price elasticity of demand..??​

Answer 1

Answer:

• The income elasticity of demand is the percentage change in the quantity demanded divided by the percentage change in income. The income elasticity of demand for a good can be positive or negative. If the income elasticity of demand is negative, it is an inferior good.

Answer 2

Answer:

The income elasticity of demand is the percentage change in the quantity demanded divided by the percentage change in income. The income elasticity of demand for a good can be positive or negative. If the income elasticity of demand is negative, it is an inferior good.

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