d. -0.31, so this store should raise price to raise total revenue The data below shows estimates of UK consumers' income
Posted: Sat Mar 19, 2022 5:42 pm
- D 0 31 So This Store Should Raise Price To Raise Total Revenue The Data Below Shows Estimates Of Uk Consumers Income 1 (22.28 KiB) Viewed 43 times
- D 0 31 So This Store Should Raise Price To Raise Total Revenue The Data Below Shows Estimates Of Uk Consumers Income 2 (40.84 KiB) Viewed 43 times
- D 0 31 So This Store Should Raise Price To Raise Total Revenue The Data Below Shows Estimates Of Uk Consumers Income 3 (40.84 KiB) Viewed 43 times
The data below shows estimates of UK consumers' income elasticity of demand for holidays in four different countries. Country Income elasticity of demand Morocco 0.8 USA 1.0 France Germany 2.0 From the data it may be concluded that a 10% rise in real incdmes would lead to a 1.4 a. fall in demand for holidays in Morocco b. no change in demand for holidays in the USA. c. a 14% increase in demand for holidays in France. d. a 2% increase in demand for holidays in Germany.