Examlex
For which of the following goods is the income elasticity of demand likely highest?
Markdown
A reduction from the original or previous retail price of a product.
Rate
A measure, quantity, or frequency, typically one measured against another quantity or measure.
Marked Up
Refers to the percentage increase in the price of a good or service over its original cost to achieve a profit.
Marked Down
Refers to a reduction in the selling price of goods or services, typically to clear inventory or to boost sales.
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