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    suppose the monthly income of an individual increases from rs 20,000 to rs 25,000 which increases his demand for clothes from 40 units to 60 units. calculate the income elasticity of demand.

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    get suppose the monthly income of an individual increases from rs 20,000 to rs 25,000 which increases his demand for clothes from 40 units to 60 units. calculate the income elasticity of demand. from screen.

    Suppose a consumer's income increases from Rs. 30,000 to Rs. 36,000 . As a result, the consumer increases her purchases of compact discs(CDs) from 25 CDs to 30 CDs. What is the consumer's income elasticity of demand for CDs?

    Click here👆to get an answer to your question ✍️ Suppose a consumer's income increases from Rs. 30,000 to Rs. 36,000 . As a result, the consumer increases her purchases of compact discs(CDs) from 25 CDs to 30 CDs. What is the consumer's income elasticity of demand for CDs?

    Question

    Suppose a consumer's income increases from Rs. 30,000 to Rs. 36,000. As a result, the consumer increases her purchases of compact discs(CDs) from 25 CDs to 30 CDs. What is the consumer's income elasticity of demand for CDs?

    A

    0.5

    B

    1.0

    C

    1.5

    D

    2.0

    Medium

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    Solved: A) Suppose the monthly income of an in

    A) Suppose the monthly income of an individual increase from Rs. 20000 to 25000 which increase his demand for clothes from 40 units to 60 ... | essaynerdy.com

    (Solved): A) Suppose the monthly income of an individual increase from Rs. 20000 to 25000 which in ...

    A) Suppose the monthly income of an individual increase from Rs. 20000 to 25000 which increase his demand for clothes from 40 units to 60 units. Calculate the income elasticity of demand.

    B) Quantity demanded for tea has increased from 300 to 400 units with an increase in the price of the coffee powder from Rs 25 to Rs35. Calculate the cross elasticity of demand between tea and coffee.

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    Mohammed 8 day ago
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