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Given the demand for beans as = 4850 5 + 1.5 + 0.1 Income Y = 10,000 Price of beans Pb= 200 Price of peas
Given the demand for beans as = 4850 5 + 1.5 + 0.1 Income Y = 10,000 Price of beans Pb= 200 Price of peas Pp = 100 i. Find the income elasticity of demand ii. Find the cross elasticity of demand
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Economics
Authors: Roger A. Arnold
11th edition
1133561675, 978-1133561675
