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Suppose the income elasticity of demand for mangoes is + 2 (positive 2) and the income elasticity of demand for apples is - 2 (negative
Suppose the income elasticity of demand for mangoes is + 2 (positive 2) and the income elasticity of demand for apples is - 2 (negative 2).
d)During the Covid 19 recession, average household incomes have declined by 10%. What impact will this have on the purchase of mangoes and apples? Explain why.
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