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give solution The demand for a good is Q = 23 - 4P + 31 where P and I represent price and income respectively. At

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The demand for a good is Q = 23 - 4P + 31 where P and I represent price and income respectively. At price of P=1 and income I=23, determine what type of good this is (inferior, necessity, or luxury) by calculating the income elasticity of demand

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