Seltzer initially costs $5, and has a price change to $1.75; initialy Yuval consumed 7 cups...

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Seltzer initially costs $5, and has a price change to $1.75; initialy Yuval consumed 7 cups of seltzer per week and now consumes 13 cups of seltzer per week. Seltzer initially costs $5, and has a price change to $1.75; initialy Yuval consumed 7 cups of seltzer per week and now consumes 13 cups of seltzer per week. What is the percentage change in price? What is the percentage change in quantity? What is the Income Elasticity of Demand? -0.6231 In this example, is seltzer a normal or an inferior good? Elastic Olnelastic Unitary Elastic Seltzer initially costs $5, and has a price change to $1.75; initialy Yuval consumed 7 cups of seltzer per week and now consumes 13 cups of seltzer per week. Seltzer initially costs $5, and has a price change to $1.75; initialy Yuval consumed 7 cups of seltzer per week and now consumes 13 cups of seltzer per week. What is the percentage change in price? What is the percentage change in quantity? What is the Income Elasticity of Demand? -0.6231 In this example, is seltzer a normal or an inferior good? Elastic Olnelastic Unitary Elastic

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Answer 1 Percentage change in pric... View the full answer