A necessity is defined as a good having Options: A . &nbspA positive income elasticity of demand B . &nbspA negative income elasticity of demand C . &nbspAn income elasticity of demand between zero and 1 D . &nbspAn income elasticity of more than 1

A necessity is defined as a good having

Question

A necessity is defined as a good having

Options:

A . A positive income elasticity of demand

B . A negative income elasticity of demand

C . An income elasticity of demand between zero and 1

D . An income elasticity of more than 1

Answer: Option C

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