Register
Studies show that the income elasticity of demand for wine is 5.03 and the income elasticity of demand for spirits is 1.21. this indicates that
132k views
5 votes
Studies show that the income elasticity of demand for wine is 5.03 and the income elasticity of demand for spirits is 1.21. this indicates that

User Russell Parrott
by
5.8k points

1 Answer

5 votes

As the price of wine increases, demand is affected more than if the price of spirits increases.

User Gabriel Vasile
by
5.5k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.9m questions

7.7m answers

Other Questions

_____ reminds customers and clients that they made a good choice in selecting a company with which to do business, or it reminds them of the good qualities of their purchase.​
Demonstrate how binomial nomenclature is related to classification systems by identifying the genus name and the specific name of the domestic cat felis catus
On august 1 the darius co. purchased a photocopy machine for $8,000. the estimated annual depreciation on the machine is $1,680. if the company prepares annual financial statements on december 31, the
When president obama was elected, the u.s. economy was in trouble, and has slid into a recession. consumer spending was low and getting worse. in an effort to stop the decline, president obama proposed
In a gallup poll of 1059 randomly selected adults, 39% answered "yes" when asked "do you have a gun in your home?"
Link Copied!