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ECON: MICRO4 (New, Engaging Titles...

4th Edition
William A. McEachern
Publisher: Cengage Learning
ISBN: 9781285423548
BuyFind

ECON: MICRO4 (New, Engaging Titles...

4th Edition
William A. McEachern
Publisher: Cengage Learning
ISBN: 9781285423548

Solutions

Chapter
Section
Chapter 5, Problem 4.8PA
Textbook Problem

(Income Elasticity of Demand) Calculate the income elasticity of demand for each of the following goods:

    Quantity Demanded When Income Is $10,000 Quantity Demanded When Income Is $20,000
    Good 1 10 25
    Good 2 4 5
    Good 3 3 2

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