The quantity demanded of good X rises from 130 to 145 units as income rises from $2,000
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The quantity demanded of good X rises from 130 to 145 units as income rises from $2,000 to $2,500 a month. What is the income elasticity of demand?
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As per the question Income increases from 2000 to 2500 As a result the quantity ...View the full answer
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