What do we call a good whose income elasticity is less than 1?

Question:

What do we call a good whose income elasticity is less than 1?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Economics

ISBN: 9781408093795

3rd Edition

Authors: Mark P. Taylor, N. Gregory Mankiw

Question Posted: