Multiple Choice
As the income increases from $40,000 to $60,000,the quantity demanded for a product increases from 27 to 29.Then:
A) The demand for this normal good is income inelastic
B) The demand for this normal good is income elastic
C) The demand for this normal good is price elastic
D) The demand for this normal good is price inelastic
E) The supply of this inferior good is inelastic
Correct Answer:

Verified
Correct Answer:
Verified
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