Question: Given the estimated demand equation and the following current values of the variables, income elasticity demand for LEE is equal to PLEE=$18 QLEE=50,000 (demand for

Given the estimated demand equation and the following current values of the variables, income elasticity demand for LEE is equal to PLEE=$18 QLEE=50,000 (demand for QLEE) PLEVI=$20 PGUESS=$35 Income (INC)=$80,000 Local Target Market Population (POP)= 100,000

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