Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN: 9781337091992
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 5, Problem 6QR

What do we call a good with an income elasticity less than zero?

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Why is  a more narrowly defined goods (pizza) likely to have a greater elasticity demand than a more broadly defined goods (food)?
Income effects depend on the income elasticity of demand for each good that you buy. If one of the goods you buy has a negative income elasticity, that is, it is an inferior good, what must be true of the income elasticity of the other good you buy? Give a real-world example
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