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Elasticity

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Question 39

The table below shows the change in the demand for a certain consumer product following a change in average household income. What type of good does this information indicate the product is?

YearAverage annual household incomeQuantity of product purchased per month
2022£40,00050
2023£48,00035

Inferior good

Normal good

Complementary good

Superior good

Elasticity Questions

  1. A Level
  2. /Economics
  3. /Elasticity