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For wine, if income goes up by 1%, the demand for wine goes up by 3%. That means that the income elasticity of demand is equal to: Type your answer..

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 4SQP

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