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bluerose501 bluerose501
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A year ago
Consider the income elasticity of demand for sport-utility vehicles (SUVs). An increase in income will

▸ increase the supply of SUVs.

▸ increase the demand for SUVs if SUVs are inferior goods.

▸ always increase the demand for SUVs.

▸ increase the demand for SUVs if SUVs are normal goods.

▸ decrease the demand for SUVs if SUVs have a very low price.
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Microeconomics

Microeconomics


Edition: 17th
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kpot15kpot15
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A year ago
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