Consider demand curves for aspirin, estimated for two different sets of consumers: (a) Q = 15 - 6 P +0.3Y (b) Q =35 - 6P+
Consider demand curves for aspirin, estimated for two different sets of consumers: (a) Q = 15 - 6 P +0.3Y (b) Q =35 - 6P+ 0.3Y If Y = $30 and P = $1, calculate the price and income elasticities for group (a). O -0:33, 0.50 O -0.89, 0.34 -0.63, 0.50 O . 1.21, 0.34
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