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Laurent Laurent
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6 years ago
If a 4 percent decrease in income causes a 2 percent decrease in the consumption of pencils then
A) the income elasticity of demand for pencils is negative.
B) pencils are a necessity and a normal good.
C) pencils are a luxury and a normal good.
D) pencils are an inferior good.
E) both A and D.
Textbook 
Microeconomics for Life: Smart Choices for You

Microeconomics for Life: Smart Choices for You


Edition: 2nd
Author:
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AryanAryan
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6 years ago
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Laurent Author
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#2
6 years ago
Wow, seems easier than I expected
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