Assume that you have two goods, good X and good Y, and that someone has determined the following information about these goods. Use this information to answer the question below. i. If consumer income increases by 10%, then consumers buy 5% fewer units of good X ii. If consumer income increases by 10%, then consumers buy 8% more units of good Y iii. If the price of good X decreases by 4%, then consumers buy 5% more units of good X iv. If the price of good Y decreases by 1%, then consumers buy 4% more units of good Y v. If the price of good Y increases by 2%, then consumers buy 5% more units of good X

Based on the interpretation of point "i" (above), which of the following is a correct statement:

	a.	good X is a normal good and a luxury good
	b.	good X is a normal good and a necessity
	c.	good X is an inferior good
	d.	good X is an inelastic good
	e.	none of the above are correct