Charles purchases 20 basketball tickets per year when his annual income is $50,000 and 25 basketball tickets when his annual income is $60,000. Charles’s income elasticity of demand for basketball ticket is .a) 0.82, and basketball tickets are a normal good. b) 0.82, and basketball tickets are an inferior good c) 1.22, and basketball tickets are an inferior good d) 1.22, and basketball tickets are a normal good
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Charles purchases 20 basketball tickets per year when his annual income is $50,000 and 25 basketball...
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