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You Are the Owner of a Construction Company That Specializes

Question 85

Multiple Choice

You are the owner of a construction company that specializes in new beach- front condominiums. If the income elasticity for your condominiums is 4.25, all of the following statements are true except which one?


A) The condominiums are normal goods.
B) The condominiums are luxury goods.
C) The condominiums are inferior goods.
D) An upcoming economic recession will decrease the demand for your condominiums.

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