Which of the Following Statements Is Correct

question 290

Multiple Choice

Which of the following statements is correct?

• A) The income elasticity of demand for inferior goods is positive.
• B) The cross elasticity of demand for substitutes is negative.
• C) The income elasticity of demand for normal goods is positive.
• D) The cross elasticity of demand for complements is positive.
• E) The income elasticity of demand for inferior goods is zero.

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Definitions:

Planning

The process of making plans for something, including setting goals and determining the steps necessary to achieve those goals.

Completing

The act of finishing or bringing something to an end.

Strong Words

Words that convey powerful emotions or emphatic statements, often used to make a more impactful expression.

Effective Sentences

Effective sentences are constructed in a manner that clearly communicates ideas or messages in a concise and understandable way.