If the Income Elasticity of Demand for a Good Is

question 122

Multiple Choice

If the income elasticity of demand for a good is negative, this implies that

• A) only the poor will buy the good.
• B) as incomes fall, less will be spent on the good.
• C) as incomes rise, the demand for the good will fall.
• D) the good does not obey the law of demand.

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