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Title: Suppose that the income elasticity of demand for good X is greater than 1. Other things being equal, ... Post by: nguyenduong67 on Aug 28, 2017 Suppose that the income elasticity of demand for good X is greater than 1. Other things being equal, which of the following statements is INCORRECT?
A) The quantity demanded of good X decreases as a consumer's income declines. B) Good X is a normal good. C) A consumer buys more X as income rises, but the share of income spent on good X falls. D) A consumer buys more X as income rises and the share of income spent on good X also rises. Title: Re: Suppose that the income elasticity of demand for good X is greater than 1. Other things being ... Post by: Lightman030 on Aug 28, 2017 Content hidden
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