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If the price elasticity of demand is -0.5 and the income elasticity is +0.3, then what will be the effect of: a) A 10% increase
If the price elasticity of demand is -0.5 and the income elasticity is +0.3, then what will be the effect of:
a) A 10% increase in price?
b) A 10% increase in income?
c) Both simultaneously?
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