The elasticity demand for meal meal is 0.5 what this numbers mean – InterviewSolution

1.	The elasticity demand for meal meal is 0.5 what this numbers mean
Answer» for PRODUCT B is INCOME elastic because income ELASTICITY is 0.5. This means that the change in demand is proportionately LESS than the change in income. The VALUE of income elasticity can also show whether goods are normal goods or inferior goods

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