If the income elasticity of demand for a good is positive,the good is said to be:
A)inferior.
B)a substitute.
C)normal.
D)positive.

Name: If the income elasticity of demand for a good is positive,the good is said to be: A)inferior. B)a substitute. C)normal. D)positive.
Brand: Quizplus
Rating: 4.9 (35 reviews)

Question

Quizplus · Accepted Answer

If the income elasticity of demand for a good is positive, it means that as income increases, the quantity demanded for the good also increases. This is characteristic of a normal good.

If the Income Elasticity of Demand for a Good Is