Question

In a year number of cars sold decreased by 20% during the year, prices of cars increased by 5%
per capita income declined by 2% and price of petrol increased by 10% income elasticity of
demand for cars is estimated to be +1.5 and cross price elasticity of petrol and cars is estimated to
be -0.30. Calculate the impact of decline in per capita income on the demand for cars?​

Answer 1

Answer:

2000is the correct answer