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How to calculate your income elasticity of demand?
Answer in progress... a. use the midpoint method to calculate your price elasticity of demand as the price of pizza increases from $8 to $10 if (i) your income is $16,000 and (ii) your income is $20,000. b. calculate your income elasticity of demand as your income increases from $16,000 to $20,000 if (i) the price is $12 and (ii) the price is $16
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Last Update: Oct 2021
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