Last year, Keith purchased 20 pounds of chicken when his income was $40,000. This year his income is $50,000 and he purchased 30 pounds of chicken. Which of the following statements is true?
A) Chicken must be an inferior good for Keith.
B) Chicken and income are substitutes.
C) Keith's demand for chicken is price elastic.
D) Chicken is a normal good.
E) None of the other answers is true.
Correct Answer:
Verified
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