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Can someone explain to me this ****? I don't understand anything?
High income elasticities with respect to food expenditure are problematic since they demand that virtue be sacrificed for the common good.
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- OiyLv 71 hour ago
At low income level, we spend more for inferior good such as bread. But as the income is getting higher, we will sacrifice bread for more protein such as eggs or meet which are common goods.
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