If a Good Is Normal,its

question 26

Multiple Choice

If a good is normal,its

• A)Price elasticity of demand is positive.
• B)Income elasticity of demand is negative.
• C)Income elasticity of demand is positive.
• D)Cross-price elasticity is positive.

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Definitions:

Misrepresentation

A false statement of fact made by one party to another party, which has the effect of inducing that party into a contract.

Contract

A binding contract that is legally enforceable, created between at least two parties.

Fraudulent

Acts that are intentionally deceitful or dishonest, typically for personal gain or to cause a loss to another.

Rescission

The cancellation of a contract to return the parties to their positions before the contract was made.