What conclusion can be drawn about a product that has an income elasticity of demand (YED) of +1.5 and a cross elasticity of demand (XED) of +1.2?
- Athe product is an inferior good; the product has a close complement
- Bthe product is an inferior good; the product has a close substitute
- Cthe product is a normal good; the product has a close complement
- Dthe product is a normal good; the product has a close substitute