Illustrate what can we conclude about the income elasticity

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Reference no: EM1354809

the demand for a candy bar is expressed by the function:

Qd=5450-2000P-0.1R+1000Pc

Qd represents the number oF candy bar demanded,

P represents the preice of candy bar,

R represents consumer average montly income ,

P represents the price of chocolate a related produce

1- Illustrate what can we conclude about the income elasticity of demand?is it positive or negative?what class of goods candy bar belongs to?

Reference no: EM1354809

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