Suppose When the Consumer's Income Rises by 100%, the Consumer's $x$

question 23

Multiple Choice

Suppose when the consumer's income rises by 100%, the consumer's consumption of good $x$ only increases 1%. We can infer that good $x$ is a(n)

• A) normal good.
• B) inferior good.
• C) Giffen good.
• D) marginal good.

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Definitions:

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