Business, 04.12.2019 04:31 9826zed

Suppose income increases by 25 percent and, as a result, the quantity of a particular brand of automobile demanded (holding the price for this particular automobile constant) increases by 49 percentthe income elasticity of demand for this brand of car is (enter your response rounded to two decimal places and include a minus sign if appropriate.)this particular brand of automobile is a(n) goodsuppose market research shows that a particular brand of truck is a normal good and a luxury. if so, then the income elasticity of demand for this truck isa. less than 1 but greater than 0b. negativec. greater than 1d. positivee. zero

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Suppose income increases by 25 percent and, as a result, the quantity of a particular brand of autom...

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