What is the income elasticity of demand at equilibrium

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The following function describes Dwight’s demand for ink pens: where QN is the quantity demanded for pens, PN is the price of pens, PP is the price of pencils, and I is Dwight’s income (in thousands of dollars). If the supply curve of pens is . What is the price elasticity of demand at equilibrium? What is the cross-price elasticity for pencils at equilibrium? What is the income elasticity of demand at equilibrium?

Reference no: EM13148201

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