Question
Which of the following are examples of unit elasticity? A house with an income elasticity of 1 An interior designer whose services have an income
Which of the following are examples of unit elasticity?
A house with an income elasticity of 1
An interior designer whose services have an income elasticity of 2.5
A real estate agent whose services have an income elasticity of 1.25
A day laborer whose services have an income elasticity of -1.75
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Macroeconomics Principles Applications and Tools
Authors: Arthur O'Sullivan, Steven Sheffrin, Stephen Perez
9th edition
978-0134089027, 134089022, 978-0134420684
