When a 5% increase in income causes a 3% drop in quantity demanded of a good.

the income elasticity is -1.67% and the good is a normal good.
the income elasticity is -.6% and the good is an inferior good.
the cross-price elasticity is -.6% and the good is an inferior good.

Question

When a 5% increase in income causes a 3% drop in quantity demanded of a good.

the income elasticity is -1.67% and the good is a normal good.
the income elasticity is -.6% and the good is an inferior good.
the cross-price elasticity is -.6% and the good is an inferior good.

When a 5% increase in income causes a 3% drop in quantity demanded of a good.

the income elasticity is -1.67% and the good is a normal good.

the income elasticity is -.6% and the good is an inferior good.

the cross-price elasticity is -.6% and the good is an inferior good.

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When a 5% increase in income causes a 3% drop in quantity demanded of a good. the income elasticity is -1.67% and the good is a normal good. the income elasticity is -.6% and the good is an inferior good. the cross-price elasticity is -.6% and the good is an inferior good.