Expression to derive the potential bounds for the income

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Reference no: EM1322726

Q. 1. Assume you are thinking of investing in a poor country to sell technology goods also want to know the potential income elasticity of for goods other than food (F). Assume the budget share also the income elasticity for food is between 0 also 1.?for food is

a. Write out the weighted income elasticity for 2 goods (F also O) also solve it for the income elasticity of other goods.

b. Utilize this expression to derive the potential bounds for the income elasticity of other goods.

c. equals 0.35. Derive the upper also lower bounds for the income elasticity if.

Reference no: EM1322726

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