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The co-efficient of income elasticity of demand for inferior goods is

Economics
WAEC 2011

The co-efficient of income elasticity of demand for inferior goods is

  • A. positive
  • B. equal to one
  • C. less than one
  • D. negative
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Correct Answer: Option D
Explanation

A negative income elasticity of demand is associated with inferior goods; an increase in income will lead to a fall in the demand and may lead to changes to more luxurious substitutes.

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