If the income elasticity of a particular good is 0.2, it would be considered O O an elastic good. a superior good. an abnormal good. an inelastic good. a normal good. an inferior good.

Managerial Economics: A Problem Solving Approach
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ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
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If the income elasticity of a particular good is 0.2, it would be considered
an elastic good.
a superior good.
an abnormal good.
an inelastic good.
a normal good.
an inferior good.
none of the specified answers are correct.
Transcribed Image Text:If the income elasticity of a particular good is 0.2, it would be considered an elastic good. a superior good. an abnormal good. an inelastic good. a normal good. an inferior good. none of the specified answers are correct.
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