Answer to Question #144271 in Economics for Tshedi

Question

QUESTION THREE [20]
3.1 Assess the category of goods according to income elasticity of demand that exhibits the
following elasticity coefficients for the goods specified:
3.1.1 Good X: Positive income elasticity; Ey = 1.6 (5)
3.1.2 Good Y: Positive income elasticity; Ey = 0.3 (5)
3.2 Discuss two (2) categories of price elasticity of demand. (10)
QUESTION FOUR [20]

Answer 1

Dear Tshedi, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order