In the case of an inferior good, the income elasticity of demand is

1.	In the case of an inferior good, the income elasticity of demand is
Answer» NEGATIVE In the case of an inferior good, the income elasticity of demand is Negative. 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.

Answer»

In the case of an inferior good, the income elasticity of demand is Negative. 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.

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In the case of an inferior good, the income elasticity of demand is

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