Answer "false" or "true" as appropriate. Justify
your answer
1. if the demand for a good increased from 300 to 320 as a
result of a 20% increase in consumer income, this good is
normal
2.If the demand curve for a good has a slope of -1.5 (minus one,
point five) and is constant (straight line), this will imply that
it is an elastic good.
3. All linear demand curves have an elastic segment and an
inelastic segment. There are no cases in which the elasticity is
constant throughout the entire curve.