Given the Demand Function Q = 450 - 2P -

question 8

Multiple Choice

Given the demand function Q = 450 - 2P - PA + 0.01Y2
Where P = 15, PA = 20 and Y = 100, find the income elasticity of demand.

• A)0.6
• B)0.4
• C)0.2
• D)1
• E)0.8

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