uppose that the quantity of canned vegetables demanded falls by 10% when income rises by 13%....

Question

Question

uppose that the quantity of canned vegetables demanded falls by 10% when income rises by 13%....

uppose that the quantity of canned vegetables demanded falls by 10% when income rises by 13%. What is the income elasticity of demand for canned vegetables?

business economics

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Answer 1

Answer #1

income elasticity of demand for canned vegetables = (% change in quantity demand of canned vegetables / % change in income)

Income elasticity of demand for canned vegetables = (-10 / 13)

Income elasticity of demand for canned vegetables = -0.769

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Answer 2

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uppose that the quantity of canned vegetables demanded falls by 10% when income rises by 13%....

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suppose that when the price of donuts rises 10%, the quantity demanded of donuts falls 3%.Based...

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uppose that the quantity of canned vegetables demanded falls by 10% when income rises by 13%....

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