At an income of $120 each, the quantity demanded for Good X is 390. At an income of $290, quantity demanded becomes 590. What is the income elasticity of demand?
At an income of $120 each, the quantity demanded for Good X is 390. At an income of $290, quantity demanded becomes 590. What is the income elasticity of demand?
Chapter6: Elasticity
Section: Chapter Questions
Problem 3WNG: The quantity demanded of good X rises from 130 to 145units as income rises from 2,000 to 2,500 a...
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![At an income of $120 each, the quantity demanded for Good X is 390. At an income of
$290, quantity demanded becomes 590. What is the income elasticity of demand?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F18cd173d-5c43-41ee-8ba6-779ebebd57d7%2F8ac8d708-63be-4e73-915f-a6d418049259%2Fkph2ir_processed.jpeg&w=3840&q=75)
Transcribed Image Text:At an income of $120 each, the quantity demanded for Good X is 390. At an income of
$290, quantity demanded becomes 590. What is the income elasticity of demand?
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