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New page: A '''Luxury good''' is a good for which demand is inelastic. A Luxury good has and Income Elasticity of Demand greater than one. Category:Economics
A '''Luxury good''' is a good for which [[demand]] is [[Inelastic Demand|inelastic]]. A Luxury good has and [[Income Elasticity of Demand]] greater than one.
[[Category:Economics]]
[[Category:Economics]]