The In The News article "Recession Eats into Gator Market" states that
A) The demand for alligator skins was inelastic.
B) The quantity demanded for alligator skins fell when income dropped, indicating that the skins were an inferior good.
C) The demand for alligator skins fell when income dropped, indicating that the skins were a normal good.
D) The demand fell for alligator skins because the price was too high.

Question

Quizplus · Accepted Answer

The article states that "the economic downturn has hurt demand for alligator leather goods, as the wealthy buyers who drive the market's prices have cut back on luxury spending." This indicates that alligator skins are a normal good and demand decreases when income decreases.

The in the News Article "Recession Eats into Gator Market