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Sophie makes $500 per week and spends all her income on books and tea. Books cost $25 each, and Chloe buys 16 each week. Tea
Sophie makes $500 per week and spends all her income on books and tea. Books cost $25 each, and Chloe buys 16 each week. Tea costs $5 per cup, and Chloe buys 20 cups. When Chloe's income falls to $450 per week, she cuts her consumption of books by 3 books and purchases five more cups of tea. Based on these figures, what type of good are books
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
3rd Edition
1319105564, 978-1319105563
