Multiple Choice
Last year,Ravi bought six pairs of shoes when his income was $60,000.This year,his income is $70,000 and he purchased 10 pairs of shoes.All else constant,what can we determine about Ravi
A) He has a price-elastic demand for shoes.
B) He considers shoes to be an inferior good.
C) He considers shoes to be a normal good.
D) He has a price-inelastic demand for shoes.
Correct Answer:

Verified
Correct Answer:
Verified
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