contestada

Which of the following goods would you expect to have the largest income elasticity of demand?
a. rice.
b. toothpaste.
c. beer.
d. stereo equipment.
e. newspapers.

Respuesta :

Lawreii

Answer:

stereo equipment.

hope this helps

ayfat23

Goods that can be considered to have the largest income elasticity of demand among the given option is D:stereo equipment.

  • Income elasticity of demand  can be regarded as economic measure  that shows the  responsiveness of  the quantity demand for a good/service  as well as  change in income.

  • Among the given option, stereo equipment will have the largest income elasticity of demand because is serve as luxury and it cost compare with other options.

Therefore, option D is correct

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