Table 5-3
-Refer to Table 5-3. Using the midpoint method, the income elasticity of demand for good Y is
A) 2.33, and good Y is a normal good.
B) −2.33, and good Y is an inferior good.
C) −0.43, and good Y is a normal good.
D) −0.43, and good Y is an inferior good.
Correct Answer:
Verified
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