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If the Income Elasticity of Demand for Laptops Is 3

question 51

Multiple Choice

If the income elasticity of demand for laptops is 3.5,you know that laptops are a(n) ________ good.


Definitions:

Maslow

Abraham Maslow, an American psychologist best known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs.

Self-actualizers

Individuals who have fulfilled their potential and realized their abilities, often demonstrating high levels of creativity, morality, and problem-solving.

Maslow

A renowned American psychologist who is famous for developing the Hierarchy of Needs theory, which suggests that psychological well-being is based on meeting inherent human necessities.

Problems

Situations, tasks, or issues that require a solution or response, often presenting challenges or obstacles to overcome.

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