Afirm knows that seneca's income elasticity of demand for hair ties is 5; for janelle, it is 0.2. a firm can reason thatla hair tie is a(n) _ _good for seneca while it is a(n)_good for janelle. a. inferior; normal b. complement; substitute c. necessity; luxury d. normal; inferior e. luxury; necessity

E. luxury; necessity

Explanation:

Income elasticity of demand is a measure of how the demand for a good or service change when people's income changes. It the ratio of the percentage change in quantity demanded to the percentage change in income.

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