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Reference no: EM131181523

Government officials in Wonderland are excited that the economy is entering a period of sustained growth. They anticipate that this growth will lead to higher levels of production and how levels of unemployment resulting in many people experiencing a decrease in their income. Suppose there are two producers in Wonderland: producer A knows that the income elasticity of demand for her product equals - 0.98 while producer B knows that the income elasticity of demand for his product equals 0. 33. Which producer is likely to view the expansionary period as a more significant advantage for their respective company? Explain your answer.

Reference no: EM131181523

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