a 10% increase in income leads to a 15% decrease in the quantity of macaroni and cheese demanded but no change in the price of macaroni and cheese. from this information, we can assume:

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08-09-2022
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a 10% increase in income leads to a 15% decrease in the quantity of macaroni and cheese demanded but no change in the price of macaroni and cheese. from this information, we can assume:

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abiolataiwo2015 abiolataiwo2015 · Answer 1 · 2022-09-12T12:34:00+02:00

If a 10% increase in income leads to a 15% decrease in the quantity of macaroni and cheese demanded but no change in the price of macaroni and cheese. from this information, we can assume: . macaroni is an inferior good and price elasticity of supply is infinite.

What are inferior goods?

Inferior goods can be defined as those goods in which the demand for those goods decrease when the income increase.

Based on the scenario macaroni is consider an inferior goods because the price still remain the same while price elasticity of supply is infinite.

Therefore If a 10% increase in income leads to a 15% decrease in the quantity of macaroni and cheese demanded but no change in the price of macaroni and cheese. from this information, we can assume: . macaroni is an inferior good and price elasticity of supply is infinite.

Learn more about inferior goods here:https://brainly.com/question/20532958

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