If there has been a 10 percent increase in consumer income between two periods, what was the percentage change in the demand for foreign travel? For tobacco products? For flour? (hint: Use the income-elasticity values in Table 3-4) Table 3-4 Estimated income elasticity of demand (EI) for Selected commodities Income Elasticity 2.59 1.06 0.37 0.28 -0.32 -0.36 1.94 1.93 1.65 1.63 1.20 0.50
