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If the supply and demand for a particular good can be expressed as follows. Qd = 600 + 100Y - 400P Qs = -200 +

If the supply and demand for a particular good can be expressed as follows. Qd = 600 + 100Y - 400P Qs = -200 + 500P Where Y stands for income. Determine the income elasticity for that good when income rises from 10 to 12.

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