If the Income Elasticity of Demand Is -3, the Good

question 35

Multiple Choice

If the income elasticity of demand is -3, the good will be a(n) :

• A) complement good.
• B) substitute good.
• C) necessity good.
• D) inferior good.
• E) luxury good.

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Definitions:

Malnourished

A condition where an individual doesn't receive adequate nutrients for proper health and growth, often due to insufficient or unbalanced food intake.

Identical Twins

Twins who develop from a single fertilized egg that splits and forms two embryos, sharing 100% of their genetics.

Weight Gain

An increase in body weight due to an excess of calories consumed over calories expended.

Bouchard

A researcher known for his work in the field of psychology, particularly in studies related to genetics and behavior.