Business, 10.03.2020 08:56 bsheepicornozj0gc

Assume that a 4 percent decrease in income results in a 6 percent increase in the quantity demanded of a good. The income elasticity of demand for the good is a. negative, and the good is an inferior good. b. positive, and the good is an inferior good. c. positive, and the good is a normal good. d. negative, and the good is a normal good.

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Assume that a 4 percent decrease in income results in a 6 percent increase in the quantity demanded...

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