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Consider the market for Patagonia pullovers. Suppose average household income increases from $38 thousand to $50 thousand per year. As a result, the demand for

Consider the market for Patagonia pullovers. Suppose average household income increases from $38 thousand to $50 thousand per year. As a result, the demand for Patagonia pullovers increases from 306 to 460. Part 2 Using the midpoint formula, what is the income elasticity of demand for Patagonia pullovers

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