a good has an income elasticity of demand of +0.5. a rise in income from 15,000 to 25,000 will lead to a "5 percent fall in quantity demanded of good"???? why?
我觉得应该是25percent fall in quantity demanded,不知道我这样做对不对?
%change in Income= change in income/average income=(25000-15000)/[(25000+15000)/2]=0.5
因为income elasticity 没有变,所以%change in quantity demand 和%change in Income 是成反比的,
所以qantity demanded要fall, =0.5*0.5=0.25
我也做出来也和答案不对的. 因为income elasticity of demand of +0.5,所以这应该是 normal good吧,那么价格升, quantity demanded of good 好象也是升的,我做出来是"25% rise in the quantity of demanded " 也不知道对不对?