62 513
Assignments Done
98,8%
Successfully Done
In June 2018

Answer to Question #55276 in Finance for Saurabh Mishra

Question #55276
A) Suppose the monthly income of an individual increase from Rs. 20000 to 25000 which increase his demand for clothes from 40 units to 60 units. Calculate the income elasticity of demand.
B) Quantity demanded for tea has increased from 300 to 400 units with an increase in the price of the coffee powder from Rs 25 to Rs35. Calculate the cross elasticity of demand between tea and coffee.
Expert's answer

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions