In 2015, Netflix increased its monthly price for new subscribers by $1. In response, someone tweeted: So
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In 2015, Netflix increased its monthly price for new subscribers by $1. In response, someone tweeted: “So tired of being a college student. Can’t wait until I have a stable job and won’t have a meltdown cause Netflix raised their price by $1.” What does this statement indicate about the income elasticity of demand for Netflix for this student? Is it normal or inferior?
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