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Author Question: If the income elasticity of demand for a good is -3.4, a 25% increase in income results in (Read 121 times)

booty5

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on: Oct 12, 2022
If the income elasticity of demand for a good is -3.4, a 25% increase in income results in
◦ an 8.5% decrease in quantity demanded.
◦ a 0.85% increase in quantity demanded.
◦ an 85% decrease in the quantity demanded.
◦ a 4% increase in quantity demanded.
◦ There is not enough information to answer this question.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by booty5 on Oct 12, 2022

lhn821

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Reply #1 on: Oct 12, 2022
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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booty5

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Reply 2 on: Oct 12, 2022
Wow, this really help

meganmoser117

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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