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Income elasticity for the demand for oranges

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Reference no: EM131281390

Judy's Marshallian demand for oranges is {I0.5(pa + 3)0.6}/ po, where pa is the price of apples, po is the price of oranges, and I is Judy's income. Suppose I = 100, pa = 2, and po = 3.

Find and interpret the income elasticity for the demand for oranges. Are oranges an inferior or normal good?

Reference no: EM131281390

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