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A 10 percent increase in income increases the quantity demanded of online movie rentals by 3 percent. The income elasticity of demand for online movie
A 10 percent increase in income increases the quantity demanded of online movie rentals by 3 percent. The income elasticity of demand for online movie rentals is ______, and online movie rentals are a(n) ______ good. a. 0.3; normal b. -3.3; inferior c. 3.3; normal d. -0.3; inferior
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Microeconomics Theory and Applications
Authors: Edgar K. Browning, Mark A. Zupan
12th edition
9781118920060, 1118758870, 1118920066, 978-1118758878
