If the Income Elasticity of Demand for a Good Is

question 188

Essay

If the income elasticity of demand for a good is _______, the good is said to be _.
A.negative; an inferior good
B.negative; a negative good
C.positive; a positive good
D.negative; a normal good

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Definitions:

Dispose of Cars

The method of disposing of unwanted or obsolete vehicles by means such as recycling, selling, or scrapping.

Variable Costs

Costs that change in proportion to the level of production or business activity.

Square Feet

A unit of area measurement in the Imperial and U.S. customary measurement systems, commonly used to express the size of a space.

Hydraulic Car Smasher

A heavy-duty machine designed to crush cars into compact sizes using hydraulic pressure for purposes of recycling or disposal.