According to the income elasticity formula, Income elasticity of demand = Ej= % change in quantity demanded + % change in income. By how much will popcorn sales increase if average income goes up by 9 percent? (Assume the income elasticity of popcorn is 3.29.) Instructions: Enter your response as a percentage rounded to one decimal place. percent

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Chapter5: Elastic And Its Application
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According to the income elasticity formula,
Income elasticity of demand = E=% change in quantity demanded + % change in income.
By how much will popcorn sales increase if average income goes up by 9 percent? (Assume the income elasticity
of popcorn is 3.29.)
Instructions: Enter your response as a percentage rounded to one decimal place.
percent
Transcribed Image Text:DE According to the income elasticity formula, Income elasticity of demand = E=% change in quantity demanded + % change in income. By how much will popcorn sales increase if average income goes up by 9 percent? (Assume the income elasticity of popcorn is 3.29.) Instructions: Enter your response as a percentage rounded to one decimal place. percent
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