The market demand function for simple calculators is as follows: QD=164−3P+.40I−2F where P is the price of a calculato
Posted: Thu May 19, 2022 8:44 am
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 _____________.
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 _____________.