If income elasticity for a good is 2, then it is a Options: A . &nbspNecessity item B . &nbspInferior good C . &nbspLuxury item D . &nbspComfortable item

If income elasticity for a good is 2, then it is a

Question

If income elasticity for a good is 2, then it is a

Options:

A . Necessity item

B . Inferior good

C . Luxury item

D . Comfortable item

Answer: Option C

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