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If income increases by 10%, but the demand for bus tickets decreases by 15%, then the income elasticity of demand is Select one: 1.5 and

If income increases by 10%, but the demand for bus tickets decreases by 15%, then the income elasticity of demand is Select one:

1.5 and bus tickets are normal

0.7 and bus tickets are inferior

-1.5 and bus tickets are inferior

-0.7 and bus tickets are normal

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