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Suppose that you are a product manager in charge of planning production of three products in various countries around the world. The table below contains information on the income elasticity of the three products.

Product Income Elasticity
X 0.20
Y 1.40
Z -1.20

Which product would you plan to produce more of if consumer income in the target country were decreasing by 5%?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9498964

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