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Luda [366]
3 years ago
12

True or False:If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is an inferior good.

Business
1 answer:
hodyreva [135]3 years ago
5 0
False. 

If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is a GIFFEN GOOD. 

An inferior good is a good that decreases in demand if income increases. These are the goods that people opt not to buy when their purchasing power increases.
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Answer:

D

Explanation:

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Answer:

A. ($1,000).

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3 years ago
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3 years ago
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B

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