Examlex
Calculate the income elasticity of demand for DVDs, where a 10 percent increase in income results in a 20 percent increase in the demand for DVDs. Decide from your answer, whether DVDs are normal or inferior goods.
Special Treatment
The act of giving preferential or unique consideration or handling to a particular person or group.
Supply Fixed
A situation where the availability of a good or service is limited and cannot be easily adjusted.
Unique Product
A product that is different from anything else on the market, either because of its brand, design, or functionality, giving it a competitive advantage.
Price
The financial requirement for obtaining a service or good.
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