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Becky's income increases from $2,000 per week to $2,600 per week. As a result, Becky decides to increase her demand for good x by 25
Becky's income increases from $2,000 per week to $2,600 per week. As a result, Becky decides to increase her demand for good x by 25 percent. Please fill in the blanks: We can conclude that good x is a(n) ______________ good and that Becky's demand for good x is _____________
Select one:
a.normal; income elastic.
b.inferior; price inelastic.
c.basic; income inelastic.
d.luxury; income elastic.
e.none of the above.
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