The following balance sheets and income statements are for Net Devices Inc.,a manufacturer of small electronic devices,including calculators,personal digital assistants and mp3 players.Use the information to calculate the following information:
ADDITIONAL INFORMATION
Definitions:
Income Elasticity
A measure of how much the quantity demanded of a good changes in response to a change in consumers' income.
Peanut Butter
A food paste or spread made from ground, dry-roasted peanuts, often used as a sandwich filling or ingredient in various recipes.
Income Elasticity
Measures how the quantity demanded of a good responds to a change in consumer income.
Normal Good
An item for which demand increases as the income of consumers increases, showing a direct relationship between income and demand.
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