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Tragamin Tragamin
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Posts: 588
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6 years ago
If a 4 percent increase in income causes an 8 percent increase in the consumption of oysters then
A) the income elasticity of demand for oysters is negative.
B) oysters are a necessity and a normal good.
C) oysters are a luxury and a normal good.
D) oysters 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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6 years ago
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