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Which good is NOT typically considered to be a public good?
Normal Good
A type of good for which demand increases as the income of consumers increase, demonstrating a positive correlation between income and demand.
Inferior Good
A type of product whose demand decreases when the income of consumers increases, inverse to normal goods.
Income Increased
A scenario where an individual's or entity's earnings rise, affecting their purchasing power and economic well-being.
Income Elasticity
A measure of how the demand for a good or service changes relative to a change in consumers' income.
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