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If income increases from $50,000 to $60,000 while the demand for a good increases from 100 units to

Loraine

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If income increases from $50,000 to $60,000 while the demand for a good increases from 100 units to

If income increases from $50,000 to $60,000 while the demand for a good increases from 100 units to 125 units, what is the income elasticity of demand? Is the good a normal good or an inferior good?

Textbook

Essential Foundations of Economics

Essential Foundations of Economics

Edition: 7^th

Authors: Bade, Parkin

Read 357 times

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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.

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xxneo, hellobusiness

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Smoooth

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You're welcome Happy Dummy

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