Business, 31.03.2020 01:21, meeeekmill

Arista always spends 30 30 % of her income on purses. Assume that her income increases by some percentage while the price of purses remains constant, and that all purses cost the same. What is her income elasticity of demand, EI, for purses? EI equals 0.5.0.75.1.0.

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Arista always spends 30 30 % of her income on purses. Assume that her income increases by some perce...