Solved: Percentage change in the demand for foreign travel, Finance Basics

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Percentage change in the demand for foreign travel

Question: If there has been a 10 percent increase in consumer income between two periods, what was the percentage change in the demand for foreign travel? For tobacco products? For Flour?

Commodity Income Elasticity

Flour    -0.36
Cigarettes             0.50
European Cars       1.93
Asian Cars            1.65

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Finance Basics: Percentage change in the demand for foreign travel

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Finance Basics: Percentage change in the demand for foreign travel

Reference No:- TGS02078179

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