Question

he incomes of consumers goes up. If higher incomes lead to greater demand, you are assuming tennis rackets are a ____________ good.

Answer 1

Luxurious goods are goods that are not critical to daily survival but which people buy when their income goes up. Since higher income leads to greater demand for tennis rackets, they are luxurious goods.

What are examples of luxurious goods?

Examples of luxurious goods are:

• Yacht
• Wine
• High-End Cars
• High-end Jewelry
• Homes and Estates

See the link below for more about Luxurious goods?

https://brainly.com/question/931520