Super Economy Brand products have an income elasticity of -1.4. Thus, these are goods.
A) necessity
B) inferior
C) luxury
D) normal
E) complementary

Name: Super Economy Brand products have an income elasticity of -1.4. Thus, these are goods. A) necessity B) inferior C) luxury D) normal E) complementary
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The negative income elasticity suggests that Super Economy Brand products are inferior goods. This means that as consumers' income increases, their demand for Super Economy Brand products will decrease.

Super Economy Brand Products Have an Income Elasticity of -1