question archive What is the practical significance of income elasticity coefficients? Explain the significance using the examples: an income elasticity of 3

What is the practical significance of income elasticity coefficients? Explain the significance using the examples: an income elasticity of 3

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What is the practical significance of income elasticity coefficients? Explain the significance using the examples: an income elasticity of 3.0 for automobiles and an income elasticity of 0.20 for home-cooked meals.

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