Very important information regarding calculating the income, Ask an Expert

Economics

Important information about Calculating the income elasticity of demand

"Suppose the demand function is Q=20-4*Price+10*Income, what is the income elasticity if Income=400 and Q=20?"

Answer

A. There is not enough information to answer this question

B. 200

C.1000

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9202668

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