a rise in income of 15% would leads to demand falling by 9%
Answers
Answered by
0
Answer:
When a 10% increase in income causes a 4% increase in quantity demanded of a good the price elasticity of demand is 4 and the good is an inferior good. the income elasticity is 2.5 and the good is a normal good. the income elasticity is 4 and the good is a normal good.
Similar questions