A market investigation of good X showed that it is an inferior good and a near substitute for good Y. Which figures for the income elasticity of demand for good X and its cross elasticity of demand in relation to the price of good Y would fit this?
- Aincome elasticity of demand for good X: –1.2; cross elasticity: –0.9
- Bincome elasticity of demand for good X: –1.2; cross elasticity: +0.9
- Cincome elasticity of demand for good X: +1.2; cross elasticity: –0.9
- Dincome elasticity of demand for good X: +1.2; cross elasticity: +0.9