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Suppose Your Annual Income Is $65,000 and You Pay $30

Question 98

Multiple Choice

Suppose your annual income is $65,000 and you pay $30 a year for your favourite magazine.Your demand for the magazine is likely to be

A) perfectly elastic.
B) inelastic.
C) unit elastic.
D) elastic.
E) elastic - the same as your demand for all other goods.

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