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Which of the following is most likely to be an inferior good? (Points : 1) Fur coats Ocean cruises Used clothing Steak
USED CLOTHING is most likely to be an inferior good.
Expert answered|andrewpallarca|Points 18702|
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Asked 1/20/2013 6:12:30 PM
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The demand for autos is likely to be (Points : 1) less price elastic than the demand for Honda Accords. more price elastic than the demand for Honda Accords. of the same price elasticity as the demand for Honda Accords. perfectly inelastic.
Weegy: The demand for autos is likely to be: LESS PRICE ELASTIC THAN THE DEMAND FOR HONDA ACCORDS. (More)
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Asked 1/20/2013 6:24:46 PM
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A demand curve (Points : 1) shows the relationship between price and quantity supplied. indicates the quantity demanded at each price in a series of prices. graphs as an upsloping line. shows the relationship between income and spending.
Weegy: In economics, the demand curve is the graph depicting the relationship between the price of a certain commodity and the amount of it that consumers are willing and able to purchase at that given price. [ It is a graphic representation of a demand schedule. The demand curve for all consumers together follows from the demand curve of every individual consumer: the individual demands at each price are added together. ] (More)
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Asked 1/20/2013 6:10:17 PM
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