Given the following income elasticities of demand,would you classify the good as a luxury,necessity,or inferior good?
(A)Salt: elasticity = .3.
(B)Potatoes: elasticity = -.1.
(C)Frozen dinners: elasticity = .9.
(D)Restaurant meals: elasticity = 1.4

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The Answer of Given the following income elasticities of demand,would you classify the good as a luxury,necessity,or inferior good?
(A)Salt: elasticity = .3.
(B)Potatoes: elasticity = -.1.
(C)Frozen dinners: elasticity = .9.
(D)Restaurant meals: elasticity = 1.4

Given the Following Income Elasticities of Demand,would You Classify the Good