If income rises from N200.00 to N250.00 and the amount spent on good X fails…

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Economics JAMB 1982

If income rises from N200.00 to N250.00 and the amount spent on good X fails from N30.00 to N28.00, then good X is

  • an income elastic good
  • a normal good
  • an inferior good checkmark
  • demand elastic
  • supply elastic

The correct answer is: C

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