Multiple Choice
When consumers' incomes decline during a recession,they increase their consumption of instant coffee and reduce their consumption of other beverages.Therefore,instant coffee:
A) is a necessity because consumers buy more during a recession.
B) has a negative income elasticity of demand.
C) has an income elasticity of demand greater than zero but less than one.
D) is normal.
Correct Answer:

Verified
Correct Answer:
Verified
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