Luxuries Are Distinguished from Necessities by the

Multiple Choice

Luxuries are distinguished from necessities by the

A) high cross elasticity of demand of the former and the low cross elasticity of the latter.
B) high income elasticity of the former and the low income elasticity of the latter.
C) fact that luxuries have high prices and necessities have low ones.
D) sign of the cross elasticity of demand.
E) number of substitutes available for each.