Business, 02.07.2021 20:00 cmflores3245
Suppose that when the price of hamburgers rises by 7%, the quantity of ketchup demanded at the current price of ketchup falls by 6%. When income rises by 12%, the quantity of ketchup demanded at the current price increases by 5%. Calculate the income elasticity of demand for ketchup.
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Suppose that when the price of hamburgers rises by 7%, the quantity of ketchup demanded at the curre...
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