If the Income Elasticity of Demand for Good X Is

question 80

Multiple Choice

If the income elasticity of demand for good X is greater than 0, but less than 1, then:

• A) X is a normal but not superior good.
• B) the answer can not be determined form the above information.
• C) X is an inferior good.
• D) X is a normal and also superior good.
• E) X is a substitute good.

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Definitions:

Environmental Forces

External conditions and influences that affect the life, development, and survival of organisms.

Conscious Experiences

Direct awareness or perception of events, feelings, or thoughts at any given moment.

Survival

The act or process of continuing to live or exist, particularly under threatening conditions or after a life-threatening event.

Adaptation

The process by which an organism or species becomes better suited to its environment through changes in physical form, function, or behavior.