Elasticities quiz

A normal good ALWAYS has an elastic YED.

Since inferior goods rise in demand as the income of people falls, it has a negative YED.

Luxury goods such as sports cars can be inelastic.

Price elasticity of demand can be possitive.

If the supply curve goes through the origin it is.

If a change in price takes place, which of the following would take the longest to respond to said change.

if a good has an income elasticity of 0.45, and the average income fell 4 percent, what was the percentage original change .

Two goods substitute each other if :

If two goods are completely unrelated to each other.

If two goods satisfy the same need they are [blank_start]complementary[blank_end], will their xed be possitive or negative?