Consider the market for north face coats suppose average, Business Economics

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Consider the market for north face coats suppose average

Consider the market for North Face coats. Suppose average household income increases from $38 thousand to $54 thousand per year. As a result, the demand for North Face coats increases from 430 to 507. Using the midpoint formula, what is the income elasticity of demand for North Face coats?

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Business Economics: Consider the market for north face coats suppose average

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