The EFMP is a vehicle incentive program in California that provides subsidies to low- and middle-income households
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The EFMP is a vehicle incentive program in California that provides subsidies to low- and middle-income households to scrap their old vehicles for more fuel efficient vehicles.Researchers found that a $1,000 subsidy which decreased prices by roughly 7.3% increased sales of eligible fuel-efficient vehicles by about 28%. What is the implied elasticity of demand? Is demand elastic or inelastic?
Related Book For
International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
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