Multiple Choice
If a good is income elastic, it follows that the percentage change in quantity demanded of a good
A) is less than the percentage change in income.
B) is greater than the percentage change in income.
C) is equal to the percentage change in income.
D) is greater than the percentage change in the price of another good.
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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