Multiple Choice
If the income elasticity of demand for good X is greater than 0, but less than 1, then:
A) X is a normal but not superior good.
B) the answer can not be determined form the above information.
C) X is an inferior good.
D) X is a normal and also superior good.
E) X is a substitute good.
Correct Answer:
Verified
Correct Answer:
Verified
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