2. Which of the following should be held constant when calculating an income elasticity of demand? a income b. the price of the good c. the quantity of the good demanded d. All of the above should be held constant.
2. Which of the following should be held constant when calculating an income elasticity of demand? a income b. the price of the good c. the quantity of the good demanded d. All of the above should be held constant.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter3: Interdependence And The Gains From Trade
Section: Chapter Questions
Problem 2PA
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