When the Price of a Good Increases by 6 Percent,the

Multiple Choice

When the price of a good increases by 6 percent,the quantity demanded decreases by 3 percent.Most likely,this good ________ and ________.

A) is a necessity;has poor substitutes
B) has poor substitutes;is a luxury
C) is a necessity;has good substitutes
D) is a luxury;is narrowly defined
E) is a luxury;has experienced a recent price change