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Lauren1 Lauren1
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Posts: 4120
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9 years ago
For Product X, the income elasticity of demand is 1.16. Which of the following is therefore definitely true?
A) Product X is a necessity.
B) Product X is income elastic.
C) Product X is a substitute for some other good.
D) Product X is something that mostly poor people will buy.
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MrDerecheMrDereche
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9 years ago
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Lauren1 Author
wrote...
#2
9 years ago
Thank you, this really, really helps Heavy Heart
wrote...
#3
9 years ago
You're welcome!
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