# Income elasticity of demand

**Question description**

**The COLLEGE STUDENT JEANS estimated the income
elasticity of demand of jeans Gap Corporation to be 1.4. Most
econ forecasts predict a 4.5% increase in incomes for students during the
next year. If among the jeans sold to college students last year,
820,000 were of the Gap brand, estimate the number of additional jeans
that Gap expects ****to
sale the upcoming year. If Gap Corporation ****estimated
that, one sales person is needed for every 800 jeans sold ****annually, estimate # of ppl theyneed tohire**

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