Using disposable personal income (people's income after paying taxes) as their measure of income, Procter and Gamble's economists estimate that the income elasticity of demand for its shampoos is 0.4. The economists forecast that disposable personal income will grow 3.5 percent next year. The demand for Procter and Gamble's shampoos will by%. (Round your answer to two decimal places)

Micro Economics For Today
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ISBN:9781337613064
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Chapter5: Price Elasticity Of Demand And Supply
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Using disposable personal income (people's income after paying taxes) as their measure of income, Procter and Gamble's economists
estimate that the income elasticity of demand for its shampoos is 0.4. The economists forecast that disposable personal income will grow
3.5 percent next year.
The demand for Procter and Gamble's shampoos will
by%. (Round your answer to two decimal places.)
Transcribed Image Text:Using disposable personal income (people's income after paying taxes) as their measure of income, Procter and Gamble's economists estimate that the income elasticity of demand for its shampoos is 0.4. The economists forecast that disposable personal income will grow 3.5 percent next year. The demand for Procter and Gamble's shampoos will by%. (Round your answer to two decimal places.)
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