The market demand function for simple calculators is as follows: QD=164−3P+.40I−2F where P is the price of a calculato

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answerhappygod
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The market demand function for simple calculators is as follows: QD=164−3P+.40I−2F where P is the price of a calculato

Post by answerhappygod »

The market demand function for simple calculators is as
follows: QD=164−3P+.40I−2F
where P is the price of a calculator, I is income and F is the
price of a battery.
If P=$1, F=$0.50 and I=$100 then the income elasticity of demand
using the point formula at I=$100 is _____________.
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