Suppose that after hurricane irene, the average income in cape charles, virginia decreased by 1212 percent. in response to this change in income, suppose the quantity of steak demanded in cape charles (holding the price of steak constant) decreased by 1414 percent. what is the income elasticity of demand for steak in cape charles?
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Suppose that after hurricane irene, the average income in cape charles, virginia decreased by 1212 p...
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