Solved: How does income elasticity of demand, Microeconomics

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How does income elasticity of demand

Assignment:

Read the article: https://articles.latimes.com/2010/oct/01/business/la-fi-china-toilets-20101002.

1) How does income elasticity of demand explain what happened in China?

2) What type of good can we call toilets?

3) What would happen to the toilets if China experiences a recession?

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Microeconomics: How does income elasticity of demand

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