Table 5-1

-Refer to Table 5-1. Which of the following is consistent with the elasticities given in Table 5-1?
A) A is a luxury and B is a necessity.
B) A is a good after an increase in income and B is that same good after a decrease in income.
C) A has fewer substitutes than c.
D) A is a good immediately after a price increase and B is that same good 3 years after the price increase.

Question

Table 5-1
 
-Refer to Table 5-1. Which of the following is consistent with the elasticities given in Table 5-1?
A) A is a luxury and B is a necessity. 
B) A is a good after an increase in income and B is that same good after a decrease in income. 
C) A has fewer substitutes than c. 
D) A is a good immediately after a price increase and B is that same good 3 years after the price increase.

Quizplus · Accepted Answer

A is a luxury and B is a necessity.

Table 5-1 -Refer to Table 5-1. Which of the Following Is Consistent