Question: I require help with this question please, thanks. Assume that the income elasticity of demand for good X is 3.69 and the cross-price elasticity is
I require help with this question please, thanks.
Assume that the income elasticity of demand for good X is 3.69 and the cross-price elasticity is 1.16. What would happen to demand for X if there is an increase in income and an increase in price of Y? Explain your answer.
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