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Question
A firm knows that Senecas income elasticity of demand for hair ties is 5; for Janelle, it is 0.2. A firm can reason that a hair tie is a(n) ________ good for Seneca while it is a(n) ________ good for Janelle.
a. normal; inferior
b. complement; substitute
c. necessity; luxury
d. inferior; normal
e. luxury; necessity
Answer
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Related questions
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