Luxury goods have --- -- degree of elasticity

Related MCQs

• Goods which are perfect substitute of each other will have elasticity of substitution…...
• An individual is spending his entire income on two items A and B equally. If income elasticity of A is 4 what is income elasticity of B
• If an individual is spending his entire income on two items A and B in the ratio of 60:40. If income elasticity of A is 5 what is income elasticity of B
• If two goods are perfect substitutes for one another, the elasticity of substitution will be
• If two goods are not substitutes at all for one another, the elasticity of substitution will be
• The income elasticity of demand of inferior goods is generally
• The income elasticity of demand of normal goods is generally
• The cross elasticity of complementary goods is generally
• The cross elasticity of substitute goods is generally
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