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When Ryan was a college student earning $10,000 per year, he would spend $1,000 on his summer vacation.However, when Ryan graduated from SMC and starting

When Ryan was a college student earning $10,000 per year, he would spend $1,000 on his summer vacation.However, when Ryan graduated from SMC and starting earning $100,000 per year, he would spend $8,000 on his summer vacation.Calculate the income elasticity of demand for Ryan's summer vacation.What is the summer vacation's classification?

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