Is it true that a normal good must have an income elasticity that is more than one?

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Is it true that a normal good must have an income elasticity that is more than one? Explain.

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Managerial Economics and Organizational Architecture

ISBN: 978-0073375823

5th edition

Authors: James Brickley, Jerold Zimmerman, Clifford W. Smith Jr

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Question Posted: Apr 11, 2018 02:34 AM

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Is it true that a normal good must have an income elasticity that is more than one?

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No being a normal good means t...View the full answer

Managerial Economics and Organizational Architecture

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