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 its consumption increases with an increase in income, albeit by a very small percentage.

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 $x$