Suppose that consumers experience a 5 percent increase in income and purchase walking shoes increase by 6 percent. What is the income elasticity for walking shoes? (Give your answer to one decimal place.)

Suppose that consumers experience a 5 percent increase in income and purchase walking shoes increase by 6 percent. What is the income elasticity for walking shoes? (Give your answer to one decimal place.)

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 17SQ

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