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Assume the intergenerational income elasticity is 0.4, Jeremy's parents earn $40,000 per year, and Ahmad's parents earn $80,000 per year. If Jeremy earns $50,000 per

Assume the intergenerational income elasticity is 0.4, Jeremy's parents earn $40,000 per year, and Ahmad's parents earn $80,000 per year. If Jeremy earns $50,000 per year as an adult, what do you predict Ahmad's adult income will be?

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