Assume that a 4 percent increase in income results in a 2 percent increase in the quantity demanded of a good. the income elasticity of demand for the good is

Elasticity will be 0.5

Explanation:

We have given 4 percent increase in price income results in 2 percent increase in quantity demand

So change in price = 4%

Change in quantity demand = 2%

We have to find the elasticity

Elasticity is given by ratio of change in demand to the change in price

So elasticity

So elasticity will be 0.5

i believe the answer is: streets and roads

public property refers to the property that can be used by all legal citizens in a certain country. the public property was created and maintain using the government budget that allocated specifically for it. the budget itself come from the citizen's income tax payment.

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