Question
Holly, Brian, Fred, Tracy, and Melanie have
income elasticities for veggie burgers as given below: Person Income elasticity of demand Tracy 2 Brian 1 Fred -0.75 Holly 0.1 Melanie -1.5 Who would respond the least in their purchase of veggie burgers in response to an increase in income?Solution
Holly's demand is the most inelastic, so she would respond the least. It is the magnitude of the elasticity that matters for how much demand changes, not the sign of the elasticity.
Cider is prepared from
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According to an IBEF report, India ranks ………………. in terms of agritech finance and the number of agritech start-ups, with strong investor in...
Constraints in the adoption of INMÂ
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