A 10 per cent increase in income increases the quantity of apple juice demanded from gallons. The income elasticity of demand for appl

Question

A 10 per cent increase in income increases the quantity of apple juice demanded from
gallons. The income elasticity of demand for apple juice is, approximately.

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Kennedy 2 weeks 2021-09-09T09:49:36+00:00 1 Answer 0

Answers ( )

  1. Charlotte
    0
    2021-09-09T09:51:30+00:00

    Answer:

    The demand of apple juice is not elastic.

    Step-by-step explanation:

    The reason is because this product can be replaced with alternative juices, which means if the price rises nobody would buy it.

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