According to a study the price elasticity of clothing in, Ask an Expert

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According to a study, the price elasticity of clothing in the United States is 0.6, and the income elasticity is 1.4.

Would you suggest that the ABC clothing company cut its price to increase its revenue?

What would be expected to happen to the total quantity of clothing sold in the united stated if income rise by 10%.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91240300

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