income elasticity of demand Flashcards by sude elma | Brainscape

Q

income inelastic

A

between 0 and 1 or 0 and -1

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Q

income elastic

A

above 1 or less than -1

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Q

when it is a positive number it is a

A

normal good

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Q

when it is a negative number it is an

A

inferior good

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