Home » Demand and Supply MCQs » Income elasticity of demand for normal good is always Demand and Supply MCQs Income elasticity of demand for normal good is always September 27, 2022 26 Views Q. Income elasticity of demand for normal good is always: A. 1 B. More than one C. Negative D. Positive Answer: Positive
The term ‘normal profit’ as used in the analysis of equilibrium of the firm under perfect competition, refers to