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QUESTION
Assume the income elasticity of a good has been calculated to be +0. Based on this information, we can infer that the good is: A) a normal good and a...
Assume the income elasticity of a good has been calculated to be +0.83. Based on this
information, we can infer that the good is:
A) a normal good and a
necessity.
B) an inferior good and a
luxury.
C) a normal good and a
luxury.
D) an inferior good and a
necessity.
