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nguyenduong67 nguyenduong67
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6 years ago
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.
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Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
Authors:
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Lightman030Lightman030
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nguyenduong67 Author
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6 years ago
Smart ... Thanks!
shangshang
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Yesterday
This site is awesome
jamesbove
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Helped a lot
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