If an Increase in Income Results in a Decrease in the Quantity

question 200

Multiple Choice

If an increase in income results in a decrease in the quantity demanded of a good,then for that good,the

• A)cross-price elasticity of demand is negative.
• B)price elasticity of demand is elastic.
• C)income elasticity of demand is negative.
• D)income elasticity of demand is positive.

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Definitions:

Tide Laundry

A leading brand of laundry detergent known for its cleaning power and wide range of products catering to different laundering needs.

Dynamically Continuous Innovation

An innovation that represents a significant change to an existing product, requiring a modest amount of learning or change in behavior for consumers.

Points Of Difference

Those characteristics of a product that make it superior to competitive substitutes.

Discontinuous Innovation

A type of innovation that represents a significant breakthrough, creating entirely new markets or drastically changing existing ones.