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Suppose Good X Has a Positive Income Elasticity of Demand

Question 234

Multiple Choice

Suppose good X has a positive income elasticity of demand.This implies that good X could be
(i) A normal good.
(ii) A necessity.
(iii) An inferior good.
(iv) A luxury.


A) (i) only
B) (i) and (ii) only
C) (i) , (ii) ,and (iv) only
D) (iii) only

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