Rand study found that the income elasticity of demand for


RAND study found that the income elasticity of demand for dental care is 0.15. Over the last one decade, income of the population has increased by 21%. Therefore, the income effect alone should a)Increase the demand for dental care by about 3% b)Increased the demand for dental care by about 32% c)Increased the demand for dental care by about 15%

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Business Economics: Rand study found that the income elasticity of demand for
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