when the income elasticity of demand for a good is negative
A. normal good
B. luxury good
C. inferior good
D. giffen good
Answer: Option C
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Group of answer choices
An increase in tax will affect the customers more than the producers if the supply schedule is inelastic.
An increase in tax will affect the customers more than the producers if the demand schedule is inelastic.
An increase in tax will affect the customers less than the producers if the demand schedule is inelastic.
Both (1) and (3) above.