Assume that the income elasticity of demand for hot dogs is -1.25 and that the income elasticity

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Assume that the income elasticity of demand for hot dogs is -1.25 and that the income elasticity of demand for lobster is 1.25. Based on the fact that the measure for hot dogs is negative while that for lobster is positive, are these normal or inferior goods?
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Economics Today

ISBN: 978-0132554619

16th edition

Authors: Roger LeRoy Miller

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