If the Income Elasticity of Demand for a Good Is

question 81

Multiple Choice

If the income elasticity of demand for a good is .59, then it is what type of good?

• A) Price elastic.
• B) Price inelastic.
• C) Income inelastic.
• D) Income elastic.
• E) Inferior.

---

Definitions:

LEO

Low Earth Orbit, a satellite system used for telecommunication, located approximately 2,000 kilometers above the Earth's surface.

NFC

Near Field Communication, a short-range wireless technology that enables the exchange of data between devices over about a 4 cm distance, commonly used for contactless payments.

Short-range

Describes communication or transmission technologies designed to work over short distances.

Wireless Network

A method of communication that uses radio waves to connect devices to the internet and to each other without the use of wires.