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What is judy price elasticity of demand for textbooks

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Reference no: EM13321599

Judy has decided to allocate exactly $500 to college textbooks every year, even though she knows that the prices are likely to increase by 5 to 10 percent per year and that she will be getting a substantial monetary gift from her grandparents next year.

What is Judy"s price elasticity of demand for textbooks? Income elasticity?

Reference no: EM13321599

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