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What is income elasticity for donuts

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Calculate for the price elasticity show solution

When ping pong balls cost $1 each, Alice is willing to buy 10 balls, and Joe is willing to buy 10 balls. When they cost $1.50 each, Alice is willing to buy 6 balls, and Joe is willing to buy 4. Solve for Alice's and Joe's elasticity:

Dindo is earning Php48.00 gets rise of 2.50. One thing he spends money on is donut. Usually he buys 120 per month but after the raise he buys 150. What is his income elasticity for donuts?

Reference no: EM133065936

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