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    If a 5 Percent Increase in Income Leads to a 10
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If a 5 Percent Increase in Income Leads to a 10

Question 88

Question 88

Multiple Choice

If a 5 percent increase in income leads to a 10 percent decrease in quantity demanded for a product, this product is


A) an income elastic good.
B) an inferior good.
C) a necessity.
D) a luxury good.

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