Knowee
Questions
Features
Study Tools

Goods for which demand rises as income rises  are ___. *1 pointA. complementary goodsB. inferior goodsC. normal goodsD. substitutes

Question

Goods for which demand rises as income rises  are ___. *1 pointA. complementary goodsB. inferior goodsC. normal goodsD. substitutes
🧐 Not the exact question you are looking for?Go ask a question

Solution 1

To determine the type of goods for which demand rises as income rises, we need to understand the relationship between income and demand.

Step 1: Identify the goods for which demand rises as income rises.

Step 2: Determine the category of these goods.

Step 3: Choose the correct option from the Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.

Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  

This problem has been solved

Similar Questions

People buy more of good 1 when the price of good 2 rises. These goods are. A. normal goods B. complements C. substitutes D. inferior goods

The cross price elasticity of demand for substitutes goods is:Question 9Select one:a.negative.b.positive.c.equal to 1.d.positive only for normal goods.

40.Under monopoly, the monopolist sells:  A. Homogeneous products  B. Substitutes  C. Complementary goods  D. Differential products

What type of good is a Giffen good?A normal goodA luxury goodAn inferior goodA complementary good

Inferior Good - A good that increases demand when consumer income decrease.Question 4AnswerTrueFalse

1/3

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.