Assume That a 4 Percent Increase in Income Results in a 2

question 94

Multiple Choice

Assume that a 4 percent increase in income results in a 2 percent increase in the quantity demanded of a good. The income elasticity of demand for the good is

• A)negative, and the good is an inferior good.
• B)negative, and the good is a normal good.
• C)positive, and the good is a normal good.
• D)positive, and the good is an inferior good.

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The activity of browsing through a magazine, which is a periodical publication containing articles, photographs, and advertisements on various subjects.

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Documentation created by salespeople detailing the insights, outcomes, and follow-up actions from their sales calls or visits to potential clients.