33. Suppase that a consumer's annual income decreased by RQ 300, causing a 15% decrease in the quantity of beef the consurner demands. If the consumer has an income elasticity of demand of 1.0 for beef, what is he: new income? 2. RO 2700. IE = b. RO 3000. 点 © RO 1700. d. RO 3300.

33. Suppase that a consumer's annual income decreased by RQ 300, causing a 15% decrease in the quantity of beef the consurner demands. If the consumer has an income elasticity of demand of 1.0 for beef, what is he: new income? 2. RO 2700. IE = b. RO 3000. 点 © RO 1700. d. RO 3300.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 2CQQ: The price of a good rises from 8 to 12, and the quantity demanded falls from 110 to 90 units....

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Question

33. Suppase that a consumer's annual income decreased by RQ 300, causing a 15%
decrease in the quantity of beef the consurner demands. If the consumer has an
income elasticity of demand of 1.0 for beef, what is he: new income?
2. RO 2700.
IE =
b. RO 3000.
点
© RO 1700.
d. RO 3300.

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