(Figure: Good Y and Good X V) in Panel (A)

Multiple Choice

(Figure: Good Y and Good X V) In panel (a) , the price of good X is $1.50 per unit and the price of good Y is $3 per unit. In panel (b) , the consumer's income increased from $400 to $480.
Panel (a) Panel (b)

Using panel (b) , good X is a (an) _____ good.

A) necessity
B) luxury
C) inferior
D) Giffen