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If income rises from N200.00 to N250.00 and the amount spent on good X falls from ...

If income rises from N200.00 to N250.00 and the amount spent on good X falls from N30.00 to N28.00, then good X is?
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A An income elastic good
  • B A normal good
  • C An inferior good
  • D Demand elastic
  • E Supply elastic
Correct Answer: Option C
Explanation:

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