I need the answer as soon as possible 43. If income elasticity for a good is 2,then it is aA. O Necessity itemB. O Inferior goodC. O Luxury itemD. O Comfortable item

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If income elasticity for a good is 2, then it is a

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 15CTQ: Income Effects depend on the income elasticity of demand for each good limit you buy. If one of the...

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I need the answer as soon as possible

43. If income elasticity for a good is 2,
then it is a
A. O Necessity item
B. O Inferior good
C. O Luxury item
D. O Comfortable item

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