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In the following graph, the demand for DVDs has shifted outward because average consumer incomes have increased from $3000 to $4000. Calculate the income elasticity
In the following graph, the demand for DVDs has shifted outward because average consumer incomes have increased from $3000 to $4000. Calculate the income elasticity of demand for DVDs. According to your estimate are DVDs necessities or luxury goods? per mm $16 12
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Price Theory and Applications
Authors: Steven Landsburg
9th edition
1285423526, 978-1285947877, 1285947878, 978-1285423524
