Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

income elasticity

/in /by

Question

Suppose a 4 percent increase in income results in a 2 percent decrease in the quantity demanded of a

good. Calculate the income elasticity of demand for the good and determine what type of good it is.

 income elasticity?   and the good is?

Hint:The type of good is either a normal, inferior, or necessity. 

 
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"