If a good has an income elasticity of demand greater than 1, one might classify that good as

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If a good has an income elasticity of demand greater than 1, one might classify that good as

If a good has an income elasticity of demand greater than 1, one might classify that good as
A) a necessity.
B) a luxury.
C) unusual.
D) inelastic.

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Microeconomics

Edition: 6^th

Author: Perloff

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