The Demand Curve for a Good with an Income Elasticity

question 94

Multiple Choice

The demand curve for a good with an income elasticity of less than one

• A)must be downward sloping.
• B)must be upward sloping.
• C)will be upward sloping only if the substitution effect outweighs the income effect.
• D)will be upward sloping only if the income effect outweighs the substitution effect.
• E)indicates a normal good.

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