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The % change in income is? The % change in quantity demanded for instant noodles is? The elasticity value is? 3. In questions 3. i)

The % change in income is? The % change in quantity demanded for instant noodles is? The elasticity value is?

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3. In questions 3. i) v) we are concerned with examining the effects on quantity demanded for instant noodles after consumer income has decreased from $10 to $8 and demand for instant noodles went from 1 to 5. We are given a demand curve and table below: Product Demand Price Product Demand 1 Product Demand 2 A B Product A 1 $1 B 5 $1 4. Note: For computations round to the nearest hundredth (ex. .12 for .126) and use a minus sign if your answer is negative (EX. -.12)

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