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Basic foods are goods for which the income elasticity of demand is a. negative so they are inferior goods b. less than one so they
Basic foods are goods for which the income elasticity of demand is a. negative so they are inferior goods b. less than one so they are inferior goods c. quite large so that an increase in income leads to a proportionately larger increase in demand d. between zero and one so the demand in income inelastic e. higher than the income elasticity of demand for luxury foods like caviar
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