Question: In each of the following instances, determine whether the good is normal or inferior, and whether it is incomeelastic or incomeinelastic. a. If income increases

In each of the following instances, determine whether the good is normal or inferior, and whether it is income‐elastic or income‐inelastic.
a. If income increases by 10 percent and the quantity demanded of a good increases by 5 percent, the good is ______ and ______.
b. If income increases by 10 percent and the quantity demanded of a good decreases by 20 percent, the good is ______ and ______.

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