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Use graphs to demonstrate the income elasticity of: A.Steaks, B.Hamburgers, and C.Ramen noodles. What assumption did you make about each product in regard to its

Use graphs to demonstrate the income elasticity of:

A.Steaks,

B.Hamburgers, and

C.Ramen noodles.

What assumption did you make about each product in regard to its income elasticity? What is the economic significance of this for US agriculture?

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