Multiple Choice
A 10% decrease in income increases the quantity demanded of online movie rentals by 3%. The income elasticity of demand for online movie rentals is _____, and online movie rentals are a(n) _____ good.
A) -3.3; inferior
B) 3.3; normal
C) -0.3; inferior
D) 0.3; normal
Correct Answer:
Verified
Correct Answer:
Verified
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