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Question
When Mary earned $3,200 per month, she bought 2 concert tickets each month. Now her monthly income is $5,600, and the number of concert tickets she purchases has risen to 3 per month. Maryʹs income elasticity of demand for concert tickets equals and the tickets are a(n) good for Mary.
A) -1.36; normal
B) -0.21; inferior
C) +0.21; complementary
D) +0.73; normal
Answer
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