When Alex's income was $6,000, he bought 2 bagels and 12 donuts a month. Now his income is $8,000 and he buys 6 bagels and 6 donuts a month. Calculate Alex's income elasticity of demand for bagels and donuts. >>> Answer to 2 decimal places. >>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign. Alex's income elasticity of demand for bagels is 2.33

When Alex's income was $6,000, he bought 2 bagels and 12 donuts a month. Now his income is $8,000 and he buys 6 bagels and 6 donuts a month. Calculate Alex's income elasticity of demand for bagels and donuts. >>> Answer to 2 decimal places. >>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign. Alex's income elasticity of demand for bagels is 2.33

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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