Per capita income in the county was 45,000, and physician visits averaged 5.0 per person per year. Per capita income has risen to 49,500. The income elasticity of demand for visits is 0.4. By what...


Per capita income in the county was
45,000, and physician visits averaged 5.0 per person per year. Per capita income has risen to
49,500. The income elasticity of demand for visits is 0.4. By what percent will visits rise? What will the average number of visits be?

Nov 19, 2021
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