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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.
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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.
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