Economists estimated that the price elasticity of beer is -0.23 and the income elasticity of beer is- 0.

Economists estimated that the price elasticity of beer is -0.23 and the income elasticity of beer

is- 0.09. This meansthat

A)

an increase in the price of beer will increase the quantity demanded of beer and beer is a

normal

good.

B)

an increase in the price of beer will lead to a decrease in the quantity demanded of beer and beer

is

a

necessity.

C)

a decrease in the price of beer will

lead to an increase in revenue for beer sellers and beer is

an

inferior

good.

D)

an increase in the price of beer will lead to an increase in revenue for beer sellers and beer is

an

inferior

good.