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Price elasticity of clothing and income elasticity
Course:- Business Economics
Reference No.:- EM13744014





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Assignment Help >> Business Economics

According to a study, the price elasticity of clothing in the United States is 0.6, and the income elasticity is 1.4.

Would you suggest that the ABC clothing company cut its price to increase its revenue?

What would be expected to happen to the total quantity of clothing sold in the united stated if income rise by 10%.




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