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Suppose a 4 percent increase in income results in a 2 percent decrease in the quantity demanded of a good determine what type of good it is ?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 7P

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Suppose a 4 percent increase in income results in a 2 percent decrease in the quantity demanded of a good determine what type of good it is ?

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