When Alexs income was $3,000, he bought 4 bagels and 12 donuts a month. Now his income

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When Alex’s income was $3,000, he bought 4 bagels and 12 donuts a month. Now his income is $5,000 and he buys 8 bagels and 6 donuts a month. Calculate Alex’s income elasticity of demand for

(a) bagels and

(b) donuts.

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Economics

ISBN: 9781292433639

14th Global Edition

Authors: Michael Parkin

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Question Posted: Jan 27, 2024 10:01 PM

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When Alexs income was $3,000, he bought 4 bagels and 12 donuts a month. Now his income

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Economics

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