Answer to Question #221580 in Microeconomics for Tumi

Question #221580

The income elasticity of the demand for shoes is 0,6. Shoes are

  •  A. an inferior and necessary good.
  •  B. a normal and luxury good.
  •  C. a normal and necessary good.
  •  D. a normal but inferior good.
1
Expert's answer
2021-07-30T15:22:01-0400

C. a normal and necessary good.


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