When consumers' income is $100, they buy 250 units of a good. When consumers' income increases to

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When consumers' income is $100, they buy 250 units of a good. When consumers' income increases to $200, they buy 500. Find he income elasticity of demand using the midpoint formula

is the good inferior or normal

is it a luxury good

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Exploring economics

ISBN: 9781439040249

5th edition

Authors: Robert L sexton

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Posted Date: Nov 29, 2018 01:16 AM

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When consumers' income is $100, they buy 250 units of a good. When consumers' income increases to

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