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Compute the present consumption of the cereals

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Problem 1: The per capita annual income of the residents of Hyderabad was Rs. 14,000 a year ago and presently it is Rs. 16,000. The income elasticity of demand for cereals is 1.15. If the consumption of cereals was 300 gm a year ago then compute the present consumption of the cereals?

Reference no: EM132960991

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