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Author Question: Economists estimated that the price elasticity of beer is -0.30 and the income elasticity of beer is ... (Read 152 times)

evelyn o bentley

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on: Oct 5, 2019

Economists estimated that the price elasticity of beer is -0.30 and the income elasticity of beer is 0.09. This means that


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an increase in the price of beer will lead to an increase in revenue for beer sellers and beer is a normal good.


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a decrease in the price of beer will lead to an increase in revenue for beer sellers and beer is an inferior good.


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an increase in the price of beer will lead to a decrease in the quantity demanded of beer and beer is a luxury.


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an increase in the price of beer will increase the quantity demanded of beer and beer is a normal good.

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Marked as best answer by evelyn o bentley on Oct 5, 2019

nikmaaacs

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Reply #1 on: Oct 5, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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evelyn o bentley

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Reply #2 on: Oct 5, 2019
Thanks


nikmaaacs

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Reply #3 on: Oct 5, 2019
Welcome :)


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