Question: Suppose you are the manager of a convenience store. You hear the news that consumer income has decreased by 6% due to an economic recovery after the COVID-19 pandemic. You estimate that the income elasticity of demand for organic milk is 1.3. Assuming that no other factor significantly influenced the demand for organic milk, you should (increase/decrease)See the answerSee the answerSee the answer done loadingShow transcribed image textHey champ,Welcome to this platform. Here you will get the answerok with better quality in mini…View the full answerTranscribed image text: Suppose you are the manager of a convenience store. You hear the news that consumer income has decreased by 6% due to an economic recovery after the COVID-19 pandemic. You estimate that the income elasticity of demand for organic milk is 1.3. Assuming that no other factor significantly influenced the demand for organic milk, you should (increase/decrease) 96. Write your response here your purchases of organic milk from suppliers by Type your answer here
