Question
Lary's demand function for good X is x L = 0.9 M/p where p is the price of the good and M denotes Gary's income.
Lary's demand function for good X is
xL = 0.9 M/p
where p is the price of the good and M denotes Gary's income.
What is the slope of Lary's Engel Curve for good X, assuming p= 3 and M = 280 dollars
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Applied Regression Analysis And Other Multivariable Methods
Authors: David G. Kleinbaum, Lawrence L. Kupper, Azhar Nizam, Eli S. Rosenberg
5th Edition
1285051084, 978-1285963754, 128596375X, 978-1285051086
