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July 30, 2014

Homework Help: Help-elasticity

Posted by Anonymous on Saturday, January 27, 2007 at 4:53pm.

Demand function is
Q=P^(-1.5)I^(0.3)
where P is price, and I is income

If the goal is to keep Q constant, how much must income change if there is a 2% increase in price.

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