Inferior goods have _________ and luxury goods have _________?

A. None of the above

B. Positive income elasticities, negative income elasticities

C. income elasticity greater than 1, negative income elasticities

D. negative income elasticity income elasticity greater than 1

Found an error? Read our corrections policy and submit a sourced correction below. You can also share a useful explanation in your own words.

Discuss the answer or suggest a sourced correction
Thank you for contributing.
Your comment was submitted and will appear after editorial review.

Your email is used only for moderation and is never displayed. Spam, copied material and fabricated endorsements are rejected.