35) If your income elasticity of demand for hot dogs is negative, then: A) your demand…

35) If your income elasticity of demand for hot dogs is
negative, then:
A) your demand curve for hot dogs is not downward sloping.
B) hot dogs are an inferior good for you.
C) hot dogs have no close substitutes for you.
D) you must not enjoy eating hot dogs.
1) The price elasticity of demand is a measure of:
A) the change in quantity demanded of a good that results from a
change in its price.
B) the change in price of a good that results from a change in
its quantity demanded.
C) the demand for a good.
D) how consumers respond to excess demand.