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joja [24]
3 years ago
7

The average annual income rises from $25,000 to $38,000, and the quantity of bread consumed in a year by the average person fall

s from 30 loaves to 22 loaves. What is the income elasticity of bread consumption? Is bread a normal or an inferior good?
Business
1 answer:
aleksandr82 [10.1K]3 years ago
7 0

Answer:

the income elasticity of bread is 20/39 and bread is an inferior good

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