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Income elasticity of demand
2019
2019 – 2,320,000
2020 – 2,660,000
2021- 3,200,000
The
Income elasticity of demand
2019
2019 – 2,320,000
2020 – 2,660,000
2021- 3,200,000
The
formula for income elasticity is:
∆Qs/Qs /∆P/P
Finally, we got the answer that the income elasticity of demand is ELASTIC (0, 12 < 1, 25)
Moreover, we can understand that this good is positive=normal good , because in the answer there is NO negative sign
(Authors calculation)
(Sloman, J. and Garratt, D., (2019)
∆Qs/Qs /∆P/P
Finally, we got the answer that the income elasticity of demand is ELASTIC (0, 12 < 1, 25)
Moreover, we can understand that this good is positive=normal good , because in the answer there is NO negative sign
(Authors calculation)
(Sloman, J. and Garratt, D., (2019)
https://daryo.uz/2021/01/27/ozbekistonda-2020-yilda-ortacha-oylik-ish-haqi
https://daryo.uz/2020/01/28/2019-yilda-moliya-sohasi-xodimlarining-ortacha-ish-haqi
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