Question: Using the midpoint method, compute and explain the coefficient of income elasticity of demand ( EY ) for each of the following: Garrett buys 12

Using the midpoint method, compute and explain the coefficient of income elasticity of demand (EY) for each of the following:

Garrett buys 12 bottles of yogurt drink per month when his monthly income is RM3,000. When his income decreases to RM2,500 a month later, he buys 2 extra bottles of yogurt drink.

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