Multiple Choice
An economist has determined that the income elasticity of demand for a movie streaming service is 1.2. How should she interpret this value?
A) Movie streaming services are normal, luxury goods.
B) Movie streaming services are inferior, necessity goods.
C) Movie streaming services are normal, necessity goods.
D) Movie streaming services are inferior, complementary goods.
Correct Answer:
Verified
Correct Answer:
Verified
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