If the income elasticity for chocolate chip cookies is 1.84, then chocolate chip cookies are A. an inferior good and income inelastic. B. an inferior good and income elastic. C. a normal good and income inelastic. D. a normal good and income elastic.

If the income elasticity for chocolate chip cookies is 1.84, then chocolate chip cookies are A. an inferior good and income inelastic. B. an inferior good and income elastic. C. a normal good and income inelastic. D. a normal good and income elastic.

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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Question

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If the income elasticity for chocolate chip cookies is 1.84, then chocolate chip cookies are
A. an inferior good and income inelastic.
B. an inferior good and income elastic.
C. a normal good and income inelastic.
D.
a normal good and income elastic.

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