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

  • A an income elastic good
  • B a normal good
  • C an inferior good
  • D demand elastic
  • E supply elastic
jamb 1982economics

The correct answer is C. an inferior good

No explanation given
Previous question Next question