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?
Homework Answers
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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uppose that the quantity of canned vegetables demanded falls by
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