Which consumer would have the least elastic demand for beef

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Question: The company said it continued gaining market share in groceries, including among higher income. . . shoppers." John has an annual income of $65,000, Danny has an annual income of $165,000 and Tanya has an annual income of $375,000. Assuming that all other variables that affect the price elasticity of demand are equal for all three consumers, which consumer would have the most elastic demand for beef brisket? Which consumer would have the least elastic demand for beef brisket?

Reference no: EM133487287

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