Suppose that after hurricane irene the average income in, Ask an Expert

Economics

Suppose that after hurricane Irene, the average income in Cape Charles, Virginia decreased by 14%. In response to this change in income, suppose the demand for steak in Cape Charles decreased by 4%. What is the income elasticity of demand for steak?

The income elasticity of demand for steak in Cape Charles is ___?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91721131

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