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Steven's income decreased from $1,800 a month to $1,200 a month when he went back to school. As a result, he cut back on trips
Steven's income decreased from $1,800 a month to $1,200 a month when he went back to school. As a result, he cut back on trips to his favorite gyro stand, from 15 to 10.
What is Steven's income elasticity?
- 1.0
- -.67
- .33
- -1.33
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Using Econometrics A Practical Guide
Authors: A. H. Studenmund
7th edition
013418274X, 978-0134182742
