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Author Question: The income elasticity of demand for electricity is 1.90. Suppose the economy improves and incomes ... (Read 98 times)

ts19998

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on: May 24, 2019
The income elasticity of demand for electricity is 1.90.  Suppose the economy improves and incomes are expected to increase by 10 percent.  This means that
◦ power companies can expect to sell 19 percent more electricity.
◦ electricity demand is income inelastic.
◦ consumers will try to find substitutes for electric power.
◦ consumers will spend 19 percent of their income on electric power.
◦ electricity is an inferior good.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by ts19998 on May 24, 2019

gstein359

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Reply #1 on: May 24, 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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ts19998

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Reply #2 on: May 24, 2019
Thank you!


gstein359

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Reply #3 on: May 24, 2019
Always glad to help...


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