Suppose when the consumer's income rises by 100%, the consumer's consumption of good $x$ only increases 1%. We can infer that good $x$ is a(n):
A)normal good.
B)inferior good.
C)Giffen good.
D)marginal good.

Question

Quizplus · Accepted Answer

Good $x$ is a normal good because the consumer's consumption of it increases as their income increases, even if the increase in consumption is very small. This is the defining characteristic of a normal good.

Suppose When the Consumer's Income Rises by 100%, the Consumer's xxx

Suppose When the Consumer's Income Rises by 100%, the Consumer's $x$