Suppose that economists calculate the income elasticity of demand for convertibles to be 1.2.

A) When the average income of consumers rises by 10%, by what percentage does the quantity demanded of convertibles change? Is this an increase or a decrease?

B) When the average income of consumers falls by 5%, by what percentage does the quantity demanded of convertibles change? Is this an increase or a decrease?

C) Based on your answers above, are convertibles a normal or an inferior good?

PLEASE ANSWER ALL QUESTIONS.