The definition of a normal good suggests that theMultiple Choiceincome elasticity of demand for the good is negative.price elasticity of demand for the good is negative.income elasticity of demand for the good is greater than 0.cross-price elasticity of demand for the good is positive.
Question
The definition of a normal good suggests that theMultiple Choiceincome elasticity of demand for the good is negative.price elasticity of demand for the good is negative.income elasticity of demand for the good is greater than 0.cross-price elasticity of demand for the good is positive.
Solution
Para responder a la pregunta, primero debemos entender los conceptos involucrados:
- Elasticidad ingreso de la demanda: Mide cómo cambia la cantidad demandada de un bien cuando cambia el ingreso del consumidor.
- Elasticidad precio de la demanda: Mide cómo cambia la cantidad demandada de un bien cuando cambia su precio.
- Elasticidad cruzada de la demanda: Mide cómo cambia la cantidad demandada de un bien cuando cambia el precio de otro bien.
Un bien normal es aquel cuya demanda aumenta cuando el ingreso del consumidor aumenta. Esto implica que la elasticidad ingreso de la demanda para un bien normal es positiva.
Ahora, evaluemos cada opción:
- Elasticidad ingreso de la demanda negativa: Esto se aplica a bienes inferiores, no a bienes normales.
- Elasticidad precio de la demanda negativa: Esto es común para la mayoría de los bienes, pero no define específicamente un bien normal.
- Elasticidad ingreso de la demanda mayor que 0: Esto es correcto para un bien normal, ya que su demanda aumenta con el ingreso.
- Elasticidad cruzada de la demanda positiva: Esto se aplica a bienes sustitutos, no necesariamente a bienes normales.
Por lo tanto, la respuesta correcta es: la elasticidad ingreso de la demanda para el bien es mayor que 0.
Similar Questions
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Assume that a 4 percent increase in income in the economy produces an 8 percent increase in the quantity demanded of good X. The coefficient of income elasticity of demand is:Multiple Choicenegative and therefore X is an inferior good.negative and therefore X is a normal good.positive and therefore X is an inferior good.positive and therefore X is a normal good.
If the income elasticity coefficient is negative, it means thatmultiple choice 2the good is normal so that if price falls, the quantity demanded of the good will rise.the good is inferior so that if price falls, the quantity demanded of the good will rise.the good is inferior so that if income falls, the quantity demanded of the good will rise.the good is inferior so that if income falls, the quantity demanded of the good will fall.
Suppose that a 20% increase in income generates a 15% increase in the quantity of X demanded. The income elasticity of demand for good X isMultiple Choicenegative and therefore X is an inferior good.positive and therefore X is a normal good.negative and therefore X is an complementary good.positive and therefore X is a substitute good.
Normal goods are those for which demand decreases as. A. the price of a substitute falls B. the price of a complement falls C. the good's own price rises D. income decreases
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