Determinants of the income elasticity of demand

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Reference no: EM131896028

Problem

Using the economics or other literature to identify estimates of the income elasticity of demand for at least the different products (normal, luxury and inferior). Provide full citations for employed literature. Comment on the magnitudes of these estimates in relation to the standard economic determinants of the income elasticity of demand. Use three sourses and 500 words

Reference no: EM131896028

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