If the Percentage Change in the Quantity Demanded of a Good

question 109

Essay

If the percentage change in the quantity demanded of a good is greater than the percentage change in income and in the same direction, then this good will have an income elasticity:
A.greater than 1 and it is a normal good.
B.less than 1 and it is a normal good.
C.equal to 1 and it is a normal good.
D.less than 1 and it is an inferior good.

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Definitions:

Brain Maturation

The process of growth and development of the brain, affecting cognitive abilities, emotional regulation, and neural connectivity.

All-or-None Law

A principle stating that the strength of a response of a nerve or muscle fiber is not dependent on the strength of the stimulus. If a stimulus is above a certain threshold, a nerve or muscle fiber will fire.

Impulse

A sudden strong and unreflective urge or desire to act.

Necrotic

Pertaining to the death of cells or tissues in the body, often as a result of disease, injury, or lack of blood supply.