Multiple Choice
If a 8 percent increase in income results in a 10 percent increase in the quantity demanded of lattes,what is the income elasticity of demand for lattes,and what type of good is lattes
A) negative, and therefore lattes is an normal good
B) negative, and therefore lattes is an inferior good
C) positive, and therefore lattes is an inferior good
D) positive, and therefore lattes is a normal good
Correct Answer:

Verified
Correct Answer:
Verified
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