It is most likely for which of the following to have an income elasticity greater than zero?
A)Mac n cheese
B)Ramen noodles
C)Store brand cola
D)Deli meat

Question

Quizplus · Accepted Answer

Deli meat is a higher-priced product compared to the other options listed and is considered a luxury good. Therefore, as income increases, consumers are more likely to buy more deli meat, resulting in a positive income elasticity.

It Is Most Likely for Which of the Following to Have