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What are some common question about elasticity

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Reference no: EM133034590

1) List as many INFERIOR goods as you possibly can.  

Goods that consumers decrease their purchases of as incomes rise.   

The book lists things such as:

  • retread tires 
  • cabbage 
  • long distance bus tickets 
  • used clothing 
  • top Ramen Noodles

So get creative here and list as many inferior goods as you know and,  explain why you think so.

2) What are some common question about elasticity?

Reference no: EM133034590

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