QUESTION 1 (4 Marks) Table 1.1 below shows the income elasticity of demand and cross elasticity of demand. Given that pr

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Question 1 4 Marks Table 1 1 Below Shows The Income Elasticity Of Demand And Cross Elasticity Of Demand Given That Pr 1 (35.59 KiB) Viewed 13 times

QUESTION 1 (4 Marks) Table 1.1 below shows the income elasticity of demand and cross elasticity of demand. Given that product, Y, is an inferior good with no close substitutes. It is a compliment to Z. Which best describes Y? Table 1.1 A B D Income elasticity of demand negative positive negative positive Cross elasticity of demand with products positive negative negative positive