Answered: If Income Elasticity of Demand for a…

If Income Elasticity of Demand for a good is +2, then the good is considered to be: a. An inferior good. b. A normal good. Oc. An irrelevanr good. Od. A useless good.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 31CTQ: Economists define normal goods as having a positive income elasticity. We can divide normal goods...

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Please correct answer and don't used hand raiting and don't used Ai solution

If Income Elasticity of Demand for a good is +2, then the good is considered to be:
a. An inferior good.
b. A normal good.
Oc. An irrelevanr good.
Od. A useless good.

Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.

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