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Business, 17.03.2020 04:31 suttonfae336

If average household income increases by 10%, from $50,000 to $55,000 per year, the quantity of rooms demanded at the Peacock from rooms per night to rooms per night. Therefore, the income elasticity of demand is , meaning that hotel rooms at the Peacock are .

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If average household income increases by 10%, from $50,000 to $55,000 per year, the quantity of room...

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