All normal goods have
A) income elasticities of demand greater than 1.0.
B) price elasticities of demand greater than 1.0.
C) negative price elasticities of demand.
D) positive income elasticities of demand.

Question

Quizplus · Accepted Answer

Normal goods have positive income elasticities of demand, meaning that as income increases, the demand for these goods also increases.

All Normal Goods Have