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Suppose the income elasticity for ipads is equal to 2 then


Suppose the income elasticity for iPads is equal to 2 then this means that

a. if income increases by $1 then the demand for iPads will increase by 2%.

b. if income increases by 2%, then the demand for iPads will decrease by 1%.

c. if income increases by 1%, then the demand for iPads will decrease by 2%.

d. if income increases by 1%, then the demand for iPads will increase by 2%.

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Business Management: Suppose the income elasticity for ipads is equal to 2 then
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