Joe received a promotion this year at work and now has an income which has increased by 21% since last year. Joe has now increased his quantity demanded of red wine by 7%. In this example, Joe's Question 25 options: a) income elasticity is .33 and the good is an inferior good. b) cross-price elasticity is 3 and the good is an inferior good. c) income elasticity is .-33 and the good is an normal good d) income elasticity is .33 and the good is a normal good