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Income elasticity of demand for a normal good is always less than one equal to zero...

Question

Income elasticity of demand for a normal good is always less than one equal to zero...

income elasticity of demand for a normal good is always

less than one
equal to zero
less than zero
greater than zero

Answers

The income elasticity of demand for a normal good is always greater than zero or we can say normal goods have positive elasticity of demand because with an increase in the income of consumers the demand for normal good increases. This implies that the income elasticity of demand for a normal good is always greater than zero.

Therefore, the correct answer is option (C) greater than zero.


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