Consider the market for new balance tennis shoes what is, Financial Management

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Consider the market for new balance tennis shoes what is

Consider the market for New Balance tennis shoes. Suppose average household income increases from $40 thousand to $55 thousand per year. As a? result, the demand for New Balance tennis shoes increases from 379 to 568.

Using the midpoint? formula, what is the income elasticity of demand for New Balance tennis shoes.

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