microbook_3e-page52 - Income-Inelastic Normal Good 0< <1...

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Income-Inelastic Normal Good 0 < Ș < 1 Unit-Elastic Normal Good Ș =1 Income-Elastic Normal Good 1 < Ș also called a Luxury Good Inferior Good Ș < 0 As depicted, the income
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This note was uploaded on 12/29/2011 for the course ECO 311 taught by Professor Willis during the Fall '10 term at SUNY Stony Brook.

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