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:

18-36 Months

An age range that references the developmental stage of toddlers, from one and a half years to three years old.

Self-awareness

The awareness of an individual's own personality, emotions, intentions, and wishes.

18-24 Months

A developmental timeframe referring to children aged one and a half to two years, significant for various physical and cognitive milestones.

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A developmental period in infants characterized by rapid growth in mobility, communication skills, and the emergence of a sense of autonomy.