Compare the impact on pre-recorded music compact disks

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Suppose the income elasticity of demand for pre-recorded music compact disks is +6.0 and the income elasticity of demand for a cabinet maker's work is + 0.6.

Compare the impact on pre-recorded music compact disks and the cabinet maker's work of an economic expansion that increases consumer income by 20 per cent.

Reference no: EM13304810

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