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Suppose when the consumer's income rises by 10%, the consumer's consumption of good X decreases by 5%. Select the best option from below. A. X
Suppose when the consumer's income rises by 10%, the consumer's consumption of good X decreases by 5%. Select the best option from below.
A. X is a normal good.
B. X is a Giffen good.
C. X is an inferior good, but not a Giffen good.
D. X is a marginal good.
E. To conclude what type of good the good X is, we need more information.
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