Aplia Homework Elastici Mind lap Cengage Lear X Specials C D ng.cengage.com/static/nb/ui/indexhtml?nbld-455033&nbNodeld; 159401496&deploymen; MIND TAP Aplia Homework: Elasticity and Its Application Due on Tomorrowat 11 59 PM CST Attempts: 13 1.2 Keep the Highest 1.312 7. Using the income elasticity of demand to characterize goods Data collected from the economy of Cardtown reveals that an 18% decrease in income leads to the following changes: A 13% increase in the quantity of spades demanded A 4% decrease in the quantity of flops demanded A 27% decrease in the quantity of houses demanded Compute the income elasticity of demand for each good and use the dropdown menus to complete the first column in th based on its income elasticity, indicate whether each good is a normal good or an infenor good. (Hint: Be careful to kee change. The sign of the income elasticity of demand can be positive or negative, and the sign confers important informat.

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