Table 5-1
​
​ ​
-Refer to Table 5-1

Multiple Choice

Table 5-1
​
​
$$\begin{array} { | c | c | } \hline \text { Good } & \begin{array} { c } \text { Price Elasticity } \\\text { of Demand }\end{array} \\\hline \mathrm { A }& 1.9 \\\hline \mathrm { B } & 0.8 \\\hline\end{array}$$ ​
-Refer to Table 5-1. Which of the following is consistent with the elasticities given in Table 5-1?

A) A is a luxury and B is a necessity.
B) A is a good after an increase in income and B is that same good after a decrease in income.
C) A has fewer substitutes than B.
D) A is a good immediately after a price increase and B is that same good three years after the price increase.