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If a 10 percent increase in consumer incomes leads to a 15 percent increase in the quantity demanded for a good, the good is a

If a 10 percent increase in consumer incomes leads to a 15 percent increase in the quantity demanded for a good, the good is a ________ good with an income elasticity of ________.

a. necessity; 0.67

b. luxury; 0.67

c. necessity;

d. 1.5 luxury; 1.5

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