What does mean if income elasticity coefficient is negative

Reference no: EM13209698

The income elasticities of demand for movies, dental ser- vices, and clothing have been estimated to be 13.4, 11, and 1.5, respectively. Interpret these coefficients. What does it mean if an income elasticity coefficient is negative?

Reference no: EM13209698

Questions Cloud

Compute the molar concentration of co2 : Calculate the molar concentration of CO2 for a sample that has a pH of 6.220 and a HCO -3 concentration of 0.0020 M. For carbonic acid pKa1=6.33 and pKa2=10.35.

Is demand elastic or inelastic over the price range : Danny "Dimes" Donahue is a neighborhood's 9-year old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $1.50 each, he sells 100. At a price of $1.00 each, he sells 300.

What are some ways in which american society is stratified : What are some ways in which American society is stratified? What do you think the affect is on society when groups are stratified? This is a debate question that our SOC 120 is currently being discussed how would you answer this??

State what is the synthesis for simple organic precursors : What is the synthesis for the following compunds from simple organic precursors? Important Using original syntheses, not from published works.

What does mean if income elasticity coefficient is negative : The income elasticities of demand for movies, dental ser- vices, and clothing have been estimated to be 13.4, 11, and 1.5, respectively. Interpret these coefficients. What does it mean if an income elasticity coefficient is negative

How will your life experiences prove beneficial : How will your life experiences prove beneficial as you move through your degree program? Briefly describe two life experiences and illustrate how each will be useful as you pursue academic goals.

Explain the bohr model of the hydrogen atom : From the Bohr model of the hydrogen atom, what can we conclude about the energy required to excite an electron

Erik erikson''s adolescense stage-borderline personality : What is the relationship between Erik Erikson's adolescense stage and borderline personality disorder?

Explain why is the original so valuable : Portray this sale in a demand and supply diagram and comment on the elasticity of supply. Comedian George Carlin once mused, "If a painting can be forged well enough to fool some experts, why is the original so valuable

User Account

All Pages