Question
A consumer purchases 10kg. of rice when his income is Rs. 1000. The quantity purchased increase by 2kg. when his income increases to Rs.
A consumer purchases 10kg. of rice when his income is Rs. 1000. The quantity purchased increase by 2kg. when his income increases to Rs. 1,100. Calculate income elasticity.
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Microeconomics
Authors: Paul Krugman, Robin Wells
3rd edition
978-1429283427, 1429283424, 978-1464104213, 1464104212, 978-1429283434
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