Average weekly pocket money for senior primary kids R7 (2020) R8.75 (2021) Cornetto ice cream is a popular snack bought

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answerhappygod
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Average weekly pocket money for senior primary kids R7 (2020) R8.75 (2021) Cornetto ice cream is a popular snack bought

Post by answerhappygod »

Average weekly pocket money for senior primary kids
R7 (2020) R8.75 (2021)
Cornetto ice cream is a popular snack bought by kids in seniorprimary school.
Cornetto’s income elasticity of demand is estimated to be–0.1.
Calculate the percentage change in quantity demanded forCornetto ice cream between 2020 and 2021, ceteris paribus:
A. –0.8%
B. –2%
C. –2.5%
D. –25%
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