Answered: Choose one from the given options.…

Choose one from the given options. When income rises by 10%, the demand for Good A rises by 20%. From the above, we knowGood A is a normal good a complement an inferior good a substitute

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 15CTQ: Income Effects depend on the income elasticity of demand for each good limit you buy. If one of the...

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Choose one from the given options.

When income rises by 10%, the demand for Good A rises by 20%. From the above, we knowGood A is
a normal good
a complement
an inferior good
a substitute

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