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What is going on with margarine?! Student hint(s): The Elasticity Intro video may help with this question. The Froeb text also covers elasticity estimates. Question
What is going on with margarine?! Student hint(s): The Elasticity Intro video may help with this question. The Froeb text also covers elasticity estimates. Question 8 options: a) a. the appropriate symbology for the coefficient is b) b. the income elasticity coefficient suggests margarine may be an inferior good ; as incomes fall, people increase their quantity demanded of margarine c) c. the income elasticity coefficient suggests margarine may be an inferior good ; as incomes rise, people cut back on the quantity demanded of margarine d) d. all of the above are correct
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