When the income-consumption curve for a good has a positive slope

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    the good is considered a normal good and the quantity demanded increases with income, leading to a left shift in the demand curve.
     the income elasticity of demand is positive and the good is considered a normal good.
     the income elasticity of demand is negative and the good is considered an inferior good.
     both 1 and 2.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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the income elasticity of demand is positive and the good is considered a normal good.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)



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