question archive Lauren's salary decreases from $40,000 to $30,000
Lauren's salary decreases from $40,000 to $30,000
Subject:EconomicsPrice:2.88 Bought3
Lauren's salary decreases from $40,000 to $30,000. She decides to reduce the number of outfits she purchases each year from 2020 to 1919. Use the midpoint method to calculate the income elasticity of demand for new outfits. Round your answer to two decimal places.
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