According to the U.S. Consumer Expenditure Survey for 2014, Americans with the lowest 20% of incomes spend
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According to the U.S. Consumer Expenditure Survey for 2014, Americans with the lowest 20% of incomes spend 41% of their income on housing. What are the limits on their income elasticities of housing if all other goods are collectively normal? They spend about 0.2% on books and other reading material. What are the limits on their income elasticities for reading matter if all other goods are collectively normal?
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Microeconomics Theory And Applications With Calculus
ISBN: 978-0134167381
4th Edition
Authors: Jeffrey M. Perloff
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