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Suppose that, when income increases by 10%, the quantity demanded of Kool-Aid decreases by 2%. From this information, one can conclude that Kool-Aid is: a.A

Suppose that, when income increases by 10%, the quantity demanded of Kool-Aid decreases by 2%. From this information, one can conclude that Kool-Aid is:

a.A normal good.

b.An inferior good.

c.A luxury good.

d.A substitute for soda pop.

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