Multiple Choice
Given the demand function Q = 450 - 2P - PA + 0.01Y2
Where P = 15, PA = 20 and Y = 100, find the income elasticity of demand.
A) 0.6
B) 0.4
C) 0.2
D) 1
E) 0.8
Correct Answer:
Verified
Correct Answer:
Verified
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