Multiple Choice
The figure given below shows the demand curves for five products: A, B, C, D, and E.Figure 6.1
-When the income elasticity of demand for a good is negative, one can correctly conclude that:
A) the good is a normal good.
B) the good is an inferior good.
C) the good is a substitute.
D) the good is a complement.
E) total revenue will decrease when the price increases.
Correct Answer:

Verified
Correct Answer:
Verified
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