Uncle Aleister

One Good Old Crow

Feb 20, 2009

Luxury goods?

luxury goods
Read what Rayna has to say:


In a recession income elasticity of a good is 1.75 therefore the good is elastic. Is it correct to say that a fall in income would lead to an increase in total revenue)?

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One Comment, Comment or Ping

  1. Shamika

    My knowledge.

    Feb 23rd, 2009

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