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The income elasticities of demand for movies, dental services, and clothing have been estimated to be: +3.4, +1, and +.5, respectively. From this, we would
The income elasticities of demand for movies, dental services, and clothing have been estimated to be: +3.4, +1, and +.5, respectively. From this, we would expect: Group of answer choices movies, dental services, and clothing to be normal goods. movies, dental services, and clothing to be substitute goods. movies, dental services, and clothing to be inferior goods. movies to be a normal good while dental services represents an inferior good
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