The ______ is the method by which communication travels from source to sender to receiver

A 2 percent increase in income increases the quantity demanded of a good by 1 percent. The income elasticity of demand for this good is _______. The good is a _______ good

A. 2; normal B. –2; inferior C. 1/2; normal D. 2; inferior

If a perfectly competitive firm doubles its output,

a. price will fall, obeying the law of demand b. it will have no effect on price c. the market supply curve shifts to the left d. its profit will double e. it prevents other firms from entering the market