Consider the following table of demands Plasma TVs, LCD TVs, and DVD players for income levels $1000 and $1100. What is the income elasticity of demand for Plasmas as income increases from $1000 to $1100? (Note: Write your answer in decimal form. Include minus sign if answer is negative.) Income-$1100 Plasmas Demanded LCDs Demanded DVD Players Demanded Income $1000 100 50 200 50 75 150

Consider the following table of demands Plasma TVs, LCD TVs, and DVD players for income levels $1000 and $1100. What is the income elasticity of demand for Plasmas as income increases from $1000 to $1100? (Note: Write your answer in decimal form. Include minus sign if answer is negative.) Income-$1100 Plasmas Demanded LCDs Demanded DVD Players Demanded Income $1000 100 50 200 50 75 150

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 3SQP

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Question

Consider the following table of demands Plasma TVs, LCD TVs, and DVD players for income levels $1000 and $1100.
What is the income elasticity of demand for Plasmas as income increases from $1000 to $1100? (Note: Write your answer in decimal form. Include minus sign if answer is negative.)
Income-$1100
Plasmas Demanded
LCDs Demanded
DVD Players Demanded
Income $1000
100
50
200
50
75
150

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