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The following income and cross price elasticities of demand were calculated for various goods. Classify if each good as superior, inferior, normal, substitudes or compliments. Explain and show your work to get full credit.
Good Income elasticity Cross elasticity
Movies +3.4
Dental Services +1.0
Clothing +0.5

Chicken and Cheese 0
Right and left shoes -1
Plays and Movies +0.5

Microeconomics, Economics

  • Category:- Microeconomics
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