If the consumers' income increase from $200 to $300, the quantity demanded for product X will increase from 80 to 100 whereas, the quantity demanded for product Y fall from 90 to 63. a.What is income...


If the consumers' income increase from $200 to
$300, the quantity demanded for product X will
increase from 80 to 100 whereas, the quantity
demanded for product Y fall from 90 to 63.
a.What is income elasticity of demand for product
X?
b. What kind of product X to these consumers?
c. What is income elasticity of demand for product
Y ?
d.What kind of product Y to these consumers?



Jun 10, 2022
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