Monday
March 30, 2015

Homework Help: Micro Econ

Posted by Polina on Thursday, September 27, 2007 at 3:35am.

Some texts define a "luxury good" as a good for which the income elasticity of demand is greater than 1. Suppose that a consumer purchases only two goods. Can both goods be luxury goods? Explain

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Econ - Consumer expenditures on safety are thought to have a positive income ...
Economics - Multiple Choice: Products with a positive income elasticity greater ...
Economics- please check - Please check to see if my answers are correct. ...
economics - Suppose there are two goods. The demand for good 1 is q1=a-bp1+ep2 ...
college economics - Suppose there are two goods. The demand for good 1 is q1=a-...
Economics - How does a persons perception of a good as a neccessity or a luxury ...
Managerial economics - Suppose Nick produces to goods @ cost C(q1,q2)=1000=.5q1^...
Economics: Price Elasticity - Please check my answers whether they are correct ...
Managerial economics - Posted by Patrick on Saturday, September 22, 2007 at 5:...
Microeconomics - University of Boston - 4. If Cassandra bought 16 cotton blouses...

Members