Solved

Luxuries Are Goods with Income Elasticities That Are _____, and Necessities

Question 47

Multiple Choice

Luxuries are goods with income elasticities that are _____, and necessities are goods with income elasticities that are:

A) positive; negative.
B) negative; positive.
C) between 0 and 1; greater than 1.
D) greater than 1; between 0 and 1.

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